Venture capital firm acquires Central Flying Service

Aviation services company Central Flying Service (CFS) in Little Rock, Arkansas, has been acquired by venture capital firm Tricoastal Ventures in an all-stock deal. CFS, based at Bill and Hillary Clinton National Airport, is Arkansas’ oldest aviation company. Founded and owned by the Holbert family, it offers part 145 MRO, aircraft management and chartering. It also includes a flight training activity.

Outgoing CEO Richard Holbert said CFS is “in good hands” with Tricoastal, adding that “the unique and enduring 82-year-old brand we’ve created will continue to serve our great people and this community for the decades to come”.

Tricoastal is a capital investment company specializing in commercial aviation. Partners Phil Jordan and Herb Knight will serve as CEO and COO of CFS, respectively. They will focus on capitalizing on existing CFS capabilities and expanding to other adjacent sites and markets. “We have big plans for the business and we have the right team to maintain a culture of quality and excellence while expanding our reach,” Jordan said.

Tricoastal will also leverage its ownership of Texas-based aircraft dealers American Kodiak and Volare Air for CFS to provide authorized maintenance to Kodiak and Tecnam aircraft owners.

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