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Goldman Sachs Capital Partners acquires stake in US aircraft manufacturer

US-based GS Capital Partners, the private equity arm of Goldman Sachs, has acquired a stake in aviation designer and manufacturer Adam Aircraft.

The terms of the transaction have not been disclosed, according to a statement from the $5.2bn GS Capital Partners 2000 Fund.

‘We have been very interested in general aviation since our investment in NetJets,' said Sanjeev Mehra, a managing director at Goldman Sachs who has joined the board of the aviation firm. ‘We believe that Adam Aircraft has a tremendous opportunity to participate in the growth of the aviation market, and we are extremely excited about this investment,' he added.

The Investment from GS Capital Partners will be used to fund the company's development of a family of general aviation aircraft through the FAA certification of its A500 and A700 models and to begin aircraft production.

‘Having Goldman Sachs invest in our company is a tremendous benefit,' said Rick Adam, chief executive officer and chairman of Adam Aircraft Industries. ‘In addition to access to capital, we will benefit from Goldman's knowledge of the aviation industry and their overall business expertise.'

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