Executive AirShare secures major investment
Executive AirShare has been recapitalised in partnership with a group led by Kansas City-based family investment firm, Curran Companies.
Curran Companies is a long term fractional ownership customer of Executive AirShare, and will now focus on growing the nation’s third largest fractional aircraft provider into new markets.
Executive AirShare founder Bob Taylor and investor Dave Murfin maintain significant ownership in the business. However the newly formed LLC is controlled by the Curran investment group.
“Executive AirShare’s business is poised for substantial growth, especially to new cities near our existing geographical footprint.”
Wiley Curran, president of Curran Companies said: “Executive AirShare’s business is poised for substantial growth, especially to new cities near our existing geographical footprint. This venture aligns with our fundamental investment principles. We see significant opportunities to leverage technology on top of the current business model to produce an even better service for our customer base. We want to be the middle market’s flight department.”
The Currans became Embraer Phenom 300 shareowners with Executive AirShare in 2013 after another shareowner and business partner suggested they give the fractional program a try. Their significant investment coincides with Executive AirShare closing on its two newest aircraft – a Beechcraft King Air 350i and a Phenom 300. The Phenom 300, the tenth of Executive AirShare’s fleet, is the latest delivery for the company from Embraer’s new Melbourne, Fla., assembly plant.
“I look forward to building a new relationship with Pat and Wiley Curran and working together to support our goals with Executive AirShare.”
Dave Murfin said: “I look forward to building a new relationship with Pat and Wiley Curran and working together to support our goals with Executive AirShare.”
Bob Taylor, Executive AirShare chairman emeritus and founder added: “I look forward to the continued growth of our regional fractional aircraft business. The Curran group brings enthusiasm, business experience and capital to support the company’s expansion into new markets. I have truly enjoyed the last 15-plus years and look forward to future participation.”
As shareowners, the Currans took advantage of Executive AirShare’s day-based program. Visits to companies within the Curran Companies investment portfolio became easier, increasing productivity and generating a competitive advantage.
“We have a long-term view with our investment in Executive AirShare.”
Pat Curran, principal at Curran Companies said: “We have a long-term view with our investment in Executive AirShare. We feel their management team has the right formula in delivering an exceptional private aviation experience using high-quality, late-model aircraft. The day-based program provides Curran Companies with scheduling flexibility as if it were our own whole aircraft. This is the best business aviation model out there today.”
The Currans augment Executive AirShare’s business standing within the community in Kansas. As frequent users they saw the growth trajectory that Executive AirShare has enjoyed since it moved its headquarters in 2004 from Wichita, Kan., to the Kansas City metro area. Executive AirShare moved its headquarters to Lenexa, Kan., earlier this year, while maintaining operations at Charles B. Wheeler Downtown Airport, within the shadow of downtown Kansas City.
“It means a lot to know that a valued shareowner demonstrated the desire and confidence to invest in the growth of our business. The Currans infuse a new level of energy and vision to Executive AirShare,” says Keith Plumb, Executive AirShare president and CEO. “Our employees and customer base will directly benefit from initiatives inspired and supported by the Currans and our management team.”
“We welcome the Currans’ forward vision and team-oriented focus,” added Plumb. “We’ve always strived for safety and service excellence. Their extensive track record of success shows we have the right partners. Together, we’ll take Executive AirShare to an even higher level.”
Executive AirShare has taken delivery of two aircraft recently, a King Air 350i and on the 6th July an Embraer Phenom 300 from the Melbourne, Florida production facility. Keith Plumb and the Currans were in attendance at the delivery in Florida.