Kingswood Capital Management has entered into a definitive agreement to acquire Safran Passenger Innovations (SPI), a global provider of in-flight entertainment and connectivity solutions for airlines and aircraft OEMs.
The transaction is expected to close early next year, subject to customary legal and regulatory requirements.
SPI’s entire leadership team will remain in place, and will continue to be led by CEO Matt Smith.
Kingswood said its acquisition of SPI is driven by a shared vision of positioning the company to deliver “transformative, next-generation solutions that redefine industry standards".
Headquartered in Brea, California, SPI created and designed an award-winning in-flight entertainment and connectivity platform known as RAVE, recognised for its intuitive design, reliability, and innovative approach.
Clayton Lechleiter, principal at Kingswood, said the company has a firm conviction in Smith’s leadership and in the future growth of the RAVE platform.
“He and his team have engineered a seamless platform that is the most reliable in the market, and results in the lowest total cost of ownership for many respected global airline customers,” said Lechleiter.
“The products and services SPI has developed are key elements of both the passenger experience that travellers expect, and the evolving marketing channels airlines are only beginning to monetise.”