Flexjet has closed a US$800 million equity investment from a consortium led by L Catterton, with participation from affiliates of KSL Capital Partners and the J. Safra Group. According to the company, the investment represents the largest equity commitment in private aviation history.
L Catterton, a consumer-focused investment firm affiliated with LVMH, leads the strategic investor group. The funding will support Flexjet’s infrastructure development, fleet modernization and global workforce expansion programs.
“L Catterton, with its relationship with LVMH and its family of brands, provides opportunity for collaborating in areas such as consumer insights, brand strategies, retail expansion, and luxury product delivery,” said Kenn Ricci, chairman of Flexjet.
According to Flexjet, the company operates 11 private terminals either operating or in development, including London Farnborough scheduled to open next year. The company maintains what it describes as private aviation’s largest in-house maintenance network plus a cabin attendant training academy.
Scott Dahnke, global chief executive of L Catterton, said Flexjet represents the consortium’s category-first investment approach. “Although they are celebrating their 30th anniversary this year, their history is one of innovation to fulfill the desires of consumers within their marketplace,” said Dahnke.
Flexjet’s business model includes fractional ownership, jet card programs and aircraft management services. The company has established partnerships with luxury brands including Ferretti Group’s Riva Yachts and Bentley Motors for client experiences.
The Cleveland-based company reports increased demand for larger aircraft and international flights among its client base. Flexjet’s expansion plans include enhanced private terminal access and exclusive destination experiences for customers.
Under the investment structure, existing shareholders will remain in control while the three investor groups provide strategic partnership capabilities. L Catterton brings experience in luxury goods and experiential branding, while KSL Capital Partners and J. Safra Group offer expertise in upscale consumer businesses.
Flexjet operates a global fleet serving fractional ownership and charter customers across multiple aircraft categories. The company’s infrastructure includes maintenance facilities, private terminals and operational control centers supporting worldwide flight operations.
The transaction involved co-advisors Jefferies, Morgan Stanley and Goldman Sachs representing Flexjet in the equity raise process. The investment enables continued expansion of Flexjet’s service delivery capabilities and aircraft fleet modernization programs.
