The Macquarie Group is to expand its aviation-related holdings with a 45 percent stake in business aviation services company Universal Weather and Aviation.
The 48-year old company, based in Houston, Texas, provides international trip planning that includes services like flight planning, weather briefings and ground support.
The investment of undisclosed size will be made from Macquarie Global Opportunities Partners, a private equity fund established this year, and Macquarie Capital Alliance Group, a co-investment vehicle listed on the Australian Securities Exchange.
“The company is directly aligned with the fast growing general aviation market and demonstrates many 'privileged cash flow' characteristics that we seek and that make it an attractive investment for our investors,” Michael Cook, chief executive of Macquarie Capital Alliance Group and chairman of Macquarie Global Opportunities Partners, said in a statement.
Macquarie has extensive aviation holdings. Its Airports Group has made private equity investments in airports and associated infrastructure in Rome, Sydney, Bristol, England and Birmingham, England. The firm also arranges financing for airline equipment via its Aviation Capital arm, and has experience with the aircraft leasing industry.