Rhône Capital buys minority stake in VistaJet

The deal saw the GP inject $150m in cash towards the acquisition of a $200m stake in the business. The deal valued the company in excess of $2.5bn. Following the acquisition, Rhône Capital's co-founder Steven Langman will join VistaJet's management board, while the company's founder and chairperson Thomas Flohr will remain the majority stakeholder.

The GP is currently investing capital from its fifth buyout vehicle, which held a €2.6bn final close in July 2015, exceeding its €1.8bn target.

Company
Established in 2004, VistaJet operates a fleet of 72 medium-, long- and ultra-long-range private jets. The company is based in Malta and also has offices in London, Dubai, New York, Los Angeles, Hong Kong, Shanghai and Beijing.

People
Rhône Capital – Steven Langman (chair).
VistaJet – Thomas Flohr (chair).

Advisers
Company – Jefferies & Co (corporate finance); Linklaters (legal).

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• Topics
• Expansion
• Consumer
• Southern Europe
• Malta