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Kekst CNC handles Crestview Partners as the private equity firm acquires Tailwind Hospitality, operator of food, beverage and retail concessions in non-hub and regional airports, from Palladin Consumer Retail Partners.
The transaction fits Crestview’s strategy of acquiring market-leading businesses in attractive niche markets.
Based in Wilmington, NC, Tailwind operates in more than 60 airports and train stations. It is the sole concessionaire in most of those locations.
Bradford Williams, Crestview partner and co-head of the industrials group, called Tailwind a differentiated market leader providing comprehensive service in its niche focus areas with significant potential for expansion. “We identified the aviation and airport services market as an attractive area for investment post-COVID,” he said.
Williams also expects Tailwind will benefit as airports and airlines are focusing more on improving the customer experience.
Crestview is investing alongside AltitudeX Aviation Group, a firm of former aviation executives focused on middle-market aviation and aerospace businesses, as well as members of Tailwind’s existing management team led by CEO Jeff Switzer, who will continue to lead the company.
Kekst CNC’s Jeffrey Taufield represents Crestview.
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