May 2011Berkshire and Greenbriar Sell Active Aero to Platinum Equity

May 25, 2011 — After about 11 years under the ownership of Berkshire Partners LLC and Greenbriar Equity LLC, Active Aero Group Inc. has a new buyout sponsor. 

Platinum Equity LLC acquired a majority stake in the transportation and logistics company; the sellers retained a minority interest. Terms of the transaction weren't disclosed. 

Telephone calls to Greenbriar and Active Aero weren't returned. Berkshire declined to comment beyond a news release announcing the deal. 

The Belleville, Mich., company provides air and ground transportation through a third-party.

Chris Healy, Active Aero's chief executive, will continue his position at the company under Platinum's ownership. 

Berkshire and Greenbriar first invested in Active Aero in 2000. Terms of that deal weren't disclosed. Financing for the transaction was provided by CS First Boston, Fleet National Group (now FleetBoston Financial) and Michigan National Bank. Greenbriar invested from its debut fund, Greenbriar Equity Fund LP, a $700 million vehicle that closed in 2001. 

The firms invested an additional $27.5 million in Active Aero in May 2002 to pay down some of the company's debt. 

Platinum is premarketing its third buyout fund, LBO Wire reported in March. The firm raised $2.75 billion in 2008 for Platinum Equity Capital Partners II LP. 


Source: Dow Jones LBO Wire
Title: Berkshire and Greenbriar Sell Active Aero to Platinum Equity
Date Published: May 25, 2011
Date Accessed: August 8, 2013

Company Details

Active Aero Group
  • Belleville,
  • Year Invested2000
  • Year Realized2011
  • IndustryServices & Industrials
  • TypesManagement Recapitalization

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