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Insights > Generational Equity Advises Keenan Technical Industries in its Sale to Flightcheck Commercial Aviation Services

Generational Equity Advises Keenan Technical Industries in its Sale to Flightcheck Commercial Aviation Services

By Generational Equity

Keenan Technical Industries

We are pleased to share the sale of Generational Equity client, Keenan Technical Industries, to Flightcheck Commercial Aviation Services (a portfolio company of Lineage Capital). The acquisition closed on December 15, 2023.

Since its founding in 1990, Keenan Technical Industries (KTI) has been a full-service provider of aircraft maintenance services to airline operators at Bradley International Airport (BDL) in Windsor Locks, Connecticut, and, starting in 2022, at Manchester-Boston Regional Airport (MHT). The company prides itself on its outstanding customer service and highly trained aircraft maintenance mechanics.

Headquartered in Bensenville, Illinois, Flightcheck Commercial Aviation Services (Flightcheck) was founded in 2004 and provides line maintenance, de-icing, and ground handling services for domestic and international cargo and commercial airlines. With the addition of KTI, Flightcheck's geographic footprint spans 10 locations across the United States.

“The acquisition of KTI marks an exciting milestone for Flightcheck,” said Wayne Jimerson, Flightcheck’s CEO and President.

“KTI established a strong regional market position by providing best-in-class customer service and demonstrating an unwavering commitment to safety, making this a compelling opportunity to expand Flightcheck’s footprint into the Northeast region and deliver top-quality services to our customers across multiple locations. We are very pleased to welcome KTI mechanics to the Flightcheck family.”

Lineage Capital (Lineage) is a Boston-based private equity firm that invests exclusively in owner-managed businesses. Lineage’s unique partnership approach provides business owners with significant liquidity, while enabling them to retain a meaningful ownership stake in their company and continued control of the board of directors.

Lineage focuses on high-quality, lower middle market businesses with EBITDA greater than $4 million that desire a value-added partner to facilitate their future growth and success.

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, Jeff Carignan, a Generational Group Authorized Affiliate, with the support of Managing Director, M&A, Corey Painter, successfully closed the transaction. Executive Managing Director and Group Leader Randy Kamin established the initial relationship with KTI.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business & Financial Services M&A Deals page.