FORT LAUDERDALE, Fla.,
July 26, 2016 /PRNewswire/ --
Amerijet Holdings, Inc. is pleased to announce the acquisition of
the company, and its subsidiaries Amerijet International, Inc. and
ITN Worldwide, by affiliates of private equity firm ZS Fund L.P.
from an affiliate of H.I.G. Capital.
Amerijet International is an all-cargo air carrier, operating
Boeing 767 and Boeing 727 aircraft from its primary hub at
Miami International Airport to
destinations throughout the Caribbean, Central
America, Mexico and
South America. With more than 40
years of experience, 25 offices in the U.S. and over 130 offices
worldwide, Amerijet International and its logistics partner, ITN
Worldwide, provide seamless transportation and logistics solutions
for freight of any size or type to destinations throughout the
world.
"This new partnership with ZS Fund signifies a very important
step forward for Amerijet, ITN Worldwide, and their customers,"
stated incoming President & CEO Vic
Karjian. "With the same strong management team and employees
in place, we intend to continue to provide the professional service
and highly reliable operations that Amerijet's customers have come
to expect. With the support of ZS Fund, we plan to continue to grow
and diversify our service offerings to create more products and
opportunities to meet the needs of our current and future
customers. We also want to express our gratitude to Dave Bassett for his exemplary leadership since
founding Amerijet 42 years ago. Dave has worked tirelessly to build
the company into what it is today."
"H.I.G. has been an ideal partner over the past 15 years," said
David Bassett, the founder of
Amerijet. "They have supported Amerijet through numerous strategic
initiatives since investing in the Company in 2001, enabling
Amerijet to access new markets, expand capacity and provide our
customers an unparalleled level of service. Amerijet is well
positioned for its next phase of growth with ZS Fund L.P. and
Vic Karjian, the incoming CEO."
ABOUT ZS FUND L.P.
ZS Fund L.P. is a New
York-based private equity firm engaged in making long-term
investments in successful middle-market companies in partnership
with management. Since 1985, ZS Fund has focused on transactions
that provide liquidity to business owners while enabling them to
maintain a significant ownership stake and keep their company
independent. Since its inception, ZS Fund has invested in companies
in transactions with an aggregate value of approximately
$2 billion. For more information,
please refer to the ZS Fund website at www.zsfundlp.com.
ABOUT H.I.G. CAPITAL
H.I.G. Capital is a leading global private equity and
alternative assets investment firm with over $20 billion of equity capital under management.*
Based in Miami, and with offices
in New York, Boston, Chicago, Dallas, Los
Angeles, San Francisco and
Atlanta in the U.S., as well as
international affiliate offices in London, Hamburg, Madrid, Milan, Paris
and Rio de Janeiro, H.I.G.
specializes in providing both debt and equity capital to small and
mid-sized companies, utilizing a flexible and operationally
focused, value-added approach. For more information, please refer
to the H.I.G. website at www.higcapital.com.
MEDIA CONTACT: Christine Richard,
Amerijet International at 954-320-5354
* Based on total capital commitments managed by H.I.G. Capital
and affiliates.
Photo - http://photos.prnewswire.com/prnh/20160726/393059
Logo - http://photos.prnewswire.com/prnh/20160726/393058LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/zs-fund-lp-acquires-amerijet-holdings-inc-300304189.html
SOURCE Amerijet International, Inc.