5 May 2014
Wellrock Capital Partners led a group of investors funding a merger between Kavoo and ImagineAir, creating the nation´s largest air taxi service. The merged airline spans the entire Eastern United States.
After the closing of the transaction, the founders of the airlines will continue to hold a majority of the equity of the business and the management of ImagineAir will direct its day-to-day operations.
“Kavoo brought significant market share of the North East and ImagineAir, which is very established in the South East, has innovative technology that lowers the cost of operations and improves efficiencies dramatically,” said Dennis Hoffman, managing partner of Wellrock, “This is an industry-changing merger. And we´re very excited to play a part in the accelerating growth of ImagineAir.”
The merger also combines the service area of both operators, growing ImagineAir´s footprint to cover the entire Eastern seaboard.
Kavoo is based in Danbury, CT, and is operated by Eagle Air. For more information, visit www.flykavoo.com.
ImagineAir is based in Metro Atlanta, and provides on-demand air taxi service throughout the Southeastern United States. Its website is at www.flyimagineair.com.
Based in Frederick, MD, Wellrock Capital Partners is a boutique investment firm specializing in connecting investors and resources with small and medium sized companies that need additional funding to reach their full potential. For more information, visit www.Wellrockcp.com.