Versa Capital Management affiliate acquires Silver Airways

Eleanor Steed
By Eleanor Steed September 14, 2016 14:49

Versa Capital Management affiliate acquires Silver Airways

Versa Capital Management, a private equity firm focused on control investments in special situations, has announced that one of its affiliates has acquired Silver Airways, a Florida-based airline. This month, Silver Airways became one of the first U.S. commercial airlines in over 50 years to offer service from the U.S. to Cuba where they will serve nine cities throughout the country. Terms of the acquisition were not made public.

Versa’s management stated it looks forward to working with the very capable Silver Airways team under the continued leadership of CEO Sami Teittinen.

“All of us at Silver Airways are pleased to welcome Versa Capital as our new partner,” said Teittinen. “Versa brings a unique combination of financial strength and operational expertise that will be of great value to our company. We look forward to their contributions as we continue to execute our customer-centric growth strategy.”

“We’re excited about this new opportunity for Versa to support Silver Airways with an enhanced capital structure that is in tune with the company’s growth trajectory,” stated Gregory L. Segall, Chairman and CEO of Versa. “We believe that Sami’s leadership – which has helped Silver Airways establish a differentiated and attractive growth strategy – combined with the opening of the new markets in Cuba will provide unprecedented revenue growth opportunities over time to the business.”

Eleanor Steed
By Eleanor Steed September 14, 2016 14:49