Component Specialist AvAir Under New Ownership

The Arizona-headquartered company was taken over earlier this month in a private equity-backed management-led buyout.

Part supplier AvAir is under new ownership, backed by a globally recognized investment group. AvAir President Mike Bianco is now CEO via a management-led buyout with a new equity partner, Corrum Capital.

As part of the buyout, Jason Cipriani, co-managing partner of Corrum, and Michael Robinson, senior advisor to Corrum, will join AvAir’s board of directors, working closely alongside Bianco and his team.

Lewis Roca Rothgerber Christie, Snell and Wilmer, The Cavanagh Law Firm and Weiss Brown served as transaction counsel to AvAir, Bianco and Ellis, respectively.

Moore & Van Allen acted as transaction counsel to Corrum. AvAir plans to continue its organic growth by delivering service to current and expanding clients and also grow through strategic acquisitions.

As business expands, AvAir plans to add new jobs worldwide.

TAGS: Components
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