June 16, 2023
New State Aviation Holdings Acquires Finnoff Aviation Products
LARCHMONT, NY – June 15, 2023 – New State Capital Partners (“New State”) announced today that its general aviation-focused platform, New State Aviation Holdings (“NS Aviation”), has acquired Finnoff Aviation Products (“Finnoff” or “the Company”), a leading provider of aircraft upgrades for the Pilatus PC-12. Finnoff joins NS Aviation’s existing investments in Blackhawk Aerospace, a recognized leader in aircraft performance improvements, and AVEX Aviation, a leading provider of sales and maintenance for the TBM series of aircraft. Founder Chris Finnoff and the management team will remain with the company. Terms of the transaction were not disclosed.
Headquartered in Broomfield, CO, Finnoff provides proprietary engine and propeller upgrades for Pilatus PC-12 aircraft, improving aircraft speed, safety, and climb capabilities, while reducing aircraft noise. Finnoff holds an FAA-certified Supplemental Type Certificate (STC) for the Pratt & Whitney Canada (P&WC) PT6A-67P engines for the Pilatus PC12. Finnoff serves as a distributor of both the MT Propeller 5-blade and 7-blade propellers for the PC12, as well as for the 5-blade propellers for the King Air 90’s, 200’s, and 350’s. The Company also provides battery and avionics upgrades, as well as aircraft brokerage services.
“The combination of Finnoff’s engine and propeller upgrade capabilities with our existing Blackhawk operation will provide additional value to the Pilatus operator community,” said Chad Cundiff, CEO of NS Aviation. “It also expands our core product offerings and generates unique cross-selling opportunities with the Blackhawk team. We welcome Chris Finnoff and the Finnoff team to NS Aviation and look forward to working together to offer a broader portfolio of products and services for owners across a wider variety of aircraft.”
“Finnoff Aviation is well known for its deep industry experience and strong customer relationships built on decades of superior customer service. Adding their products and expertise to the NS Aviation family allows us to significantly accelerate the development of new aircraft upgrades,” said Blackhawk CEO Jim Allmon.
“We’re excited to join NS Aviation and give our team the opportunity to leverage the wider portfolio of AVEX and Blackhawk products for new and existing clients,” said Chris Finnoff. “NS Aviation shares our commitment to maintaining our company’s values and long-standing dedication to service and technical excellence.”
Daniel Han, Senior Principal at New State and Chairman of NS Aviation, noted, “We are truly pleased to partner with Chris, a proven industry leader, and close the platform’s fourth acquisition in 18 months. We remain focused on becoming the premier service provider for the light turbine market by investing in our people and operations, and acquiring quality businesses.”