Beekman Investment Partners III, LP (“Beekman”), a private equity firm based in New York, has announced that an affiliate has completed a recapitalization of REVA, Inc. (“REVA”), the largest dedicated global fixed wing air medical platform, alongside strategic partner Directional Aviation, LLC (“Directional”) and Goldman Sachs Specialty Lending Group (“GSSLG”) as lender, the company said.
REVA´s existing management team will continue to lead the company and will retain a significant ownership stake in the business.
REVA was formed in 2012 through the merger of AeroJet International and Air Ambulance Professionals. Over the past six years, REVA has grown to be the global market provider of international long-range air medical transports and has set the standard for safety, reliability and patient service excellence. The company has bases of operations in Ft. Lauderdale, FL, San Juan, Puerto Rico, Phoenix, AZ and Schenectady, NY, and a fleet of over 20 aircraft.
The Beekman Group is a private equity firm, based in New York, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman´s team consists of experienced private equity professionals, as well as a select group of Industry Advisors, who are executives in Beekman´s targeted industry segments. This Industry Advisor focused approach to investing is the cornerstone of Beekman´s investment strategy — creating value through accelerating growth and transformational change in partnership with small and middle-market management teams. For more information, visit www.thebeekmangroup.com.
REVA is the largest dedicated global fixed wing air medical platform in the US The company has completed over 25,000 missions to over 65 countries since inception. The company utilizes a fleet of over twenty aircraft for both travel and health insurance clients around the world. The company prides itself on delivering a high-quality patient experience and is known for its strong clinical outcomes. For more information, visit www.flyreva.com.
Directional Aviation, based in Cleveland, OH, was founded in 1981 by Kenn Ricci, and is a provider of investment capital focused solely on the private business aviation sector, including fractional jet ownership, jet cards and charter, open and closed fleets, and jet reimbursement and rebuild services. Today, Directional operates nine brands that provide a host of aviation services. For more information, visit www.directionalaviation.com.