Private Jet Services secures $10 million in financing

Private Jet Services Group of New Hampshire has secured $10 million in financing from RBS Citizens. The new funds will be used for company expansion.

The company will continue to grow by the acquisition of competitors in the third party logistics industry. Private Jet Service has seen significant growth in the corporate aviation market.

Greg Raiff, CEO of Private Jet Services, said: “We think about our industry differently. Our management team is committed to executing for each client on a day-in, day-out basis, rather than striving to be the largest player in the space. This is a customized-solution business where cookie-cutter approaches have historically proven to fall short.”

Raiff continued “The substantial funding by RBS Citizens provides the unique opportunity to work with many companies that do a fantastic job in our industry, and we are looking forward to partnering with them.”

“RBS Citizens and Private Jet Services Group are both companies that understand the value and importance of meeting the needs of their customers,” said Joe Carelli, president of RBS Citizens and Citizens Bank, New Hampshire. “We are pleased to work with PJS to provide a financing package that will help them execute on their growth strategy.”

Private Jet Services was founded in 2003 and today the company handles more than 1,000 flights a year worldwide.