Click here for printer friendly page
Oak Hill to acquire Southern Air27/07/2007. Source: AltAssets. 
 Oak Hill Capital Partners has agreed to acquire Southern Air, a provider of air cargo services to airlines worldwide. Subsequent to the closing of the transaction, Southern Air will be combined with Cargo 360, an existing Oak Hill portfolio company.
Southern Air's founder and CEO, James K Neff, and his family will retain a minority interest in the combined company, and James Neff will serve as its CEO.
Terms of the transaction were not disclosed.
The combined business, which will operate under the Southern Air Holdings name, will operate a fleet of 13 Boeing 747 'classic' freighters. In addition, Southern Air Holdings has reached agreement to add another Boeing 747 'classic' freighter and two Boeing 747-400BCF freighters to its fleet in 2008, and anticipates operating six new Boeing 777 freighters in the future, according to a statement. Southern Air Holdings will be headquartered in Norwalk, Connecticut.
Oak Hill partner Rowan Taylor said, 'Southern Air and Cargo 360 each share a common vision for successfully serving their global airline customers, and the combined business will have the resources to continue this service and to grow. We look forward to working with Jim and his outstanding management team.'
Copyright © 2007 AltAssets
|
