FREDERICK MD – Wellrock Capital Partners led a group of investors funding a merger between Kavoo and ImagineAir creating the nation’s largest air taxi service. The merged airline spans the entire Eastern United States.
After the closing of the transaction, the founders of the airlines will continue to hold a majority of the equity of the business and the management of ImagineAir will direct its day-to-day operations. “Kavoo brought significant market share of the North East and ImagineAir, which is very established in the South East, has innovative technology that lowers the cost of operations and improves efficiencies dramatically” said Dennis Hoffman, managing partner of Wellrock, “This is an industry-changing merger. And we’re very excited to play a part in the accelerating growth of ImagineAir.”
The merger represents one of the biggest moves in the air taxi industry. “ImagineAir is making personal aviation more affordable than anyone thought possible,” said Ben Hamilton, CEO of ImagineAir.
Over a decade ago, NASA invested 70 million dollars in a program to revive general aviation in the United States. Dubbed the Small Aircraft Transportation System (SATS), its goal was to divert travelers from highways and commercial airline hubs to the thousands of under-utilized airports in the United States not served by scheduled airlines. “Kavoo and ImagineAir have a great opportunity to fulfill the promises NASA envisioned many years ago,” said Richard Humphrey, CEO of Kavoo.
The merger also combines the service area of both operators, growing ImagineAir’s footprint to cover the entire Eastern seaboard. “ImagineAir can replace a six hour drive with a 50 minute flight,” Hoffman said, “it’s like they invented a time machine.”
About Kavoo: Based in Danbury, CT, Kavoo charter flights operated by Eagle Air can be the smartest and most cost-efficient way to get to and from many remote locations throughout the Northeastern United States. For more information, visit www.flykavoo.com.
About ImagineAir: Based in Metro Atlanta, ImagineAir is committed to providing safe, affordable, and reliable on-demand air taxi service throughout the Southeastern United States. With its fleet of Cirrus SR22-GTS aircraft and a network of thousands of underutilized airports; ImagineAir makes regional travel easier, faster, and more comfortable than ever before. For more information, visit www.flyimagineair.com or call 877-359-4242.
About Wellrock Capital Partners: Based in Frederick, MD, Wellrock Capital Partners is a boutique investment firm specializing in connecting investor sand resources with small and medium sized companies that need additional funding to reach their full potential.