Alpine Air Express Acquires Substantially All of the Assets of Great Lakes Airlines

April 8, 2020

FOR IMMEDIATE RELEASE

Alpine Air Express Acquires Substantially All of the Assets of Great Lakes Airlines

Provo, Utah – April 8, 2020 – Alpine Air Express, Inc. (“Alpine” or the “Company”), a logistics and transportation company providing regional air cargo services throughout the Mountain Western region of the United States, announced today that is has acquired 27 airplanes and associated engines, propellers, spare parts and ground support equipment from Great Lakes Airlines. Alpine is a portfolio company of AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. Terms of the transaction were not disclosed.

“This acquisition is highly strategic for our Company, significantly expanding our market presence and ability to serve our customers,” said Michael Dancy, CEO of Alpine. “We are excited to grow our fleet, maintenance support and spare parts availability while also utilizing our proprietary supplemental type certificate (STC) to convert these acquired Beech 1900D aircraft into our expanding cargo operations.”

“We partnered with Alpine to help the Company solidify and grow its leading market position providing regional air cargo transportation services,” said Jon Nemo, Senior Partner at AEI. “This acquisition is a further testament to our strategy of building our fleet and infrastructure to meet the growing demand for regional air cargo transportation in our targeted geographies.”

Akerman LLP served as legal advisor to AIpine.

About Alpine Air Express
Headquartered in Provo, Utah, Alpine is a leading Part 135 air cargo operator with a long and distinguished history providing its customers with safe and reliable air cargo transportation services primarily throughout attractive growth markets in the Mountain Region of the Western United States. Alpine operates a growing fleet of aircraft and owns a proprietary Supplemental Type Certificate (“STC”) to convert the Beechcraft 1900D aircraft from passenger configuration to cargo configuration, making it the largest single pilot cargo aircraft in the world. For more information,please visit https://www.alpine-air.com.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. Learn more at www.aeroequity.com.

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