Pacific Air Cargo, the company which operates the weekly cargo flight to the territory has a new owner.
PAC has announced it has been acquired by Invision Capital.
A company statement said the transaction was agreed to earlier this year by Pacific Air Cargo’s founder Ms Beti Ward prior to her untimely passing.
Invision Capital’s Chief Executive Officer, Ms Tanja Janfruechte said, “Beti and our team has been looking for quite some time for a financial investor that would allow the company to grow and strengthen.
Invision’s CEO and Pacific Air Cargo’s Chief Operating Officer Thomas Ingram assured staff that it’s business as usual.
“This is a very exciting time for our company and this decision is one which Tanja and I have supported wholeheartedly form the outset,” said Ingram.
He added that today’s announcement, “should only enhance our team members job security and career prospects as we continue to seek opportunities to grow and consolidate our position in the market.”
Invision Capital is a middle market private equity firm based in Chicago, Illinois.
It provides flexible capital to facilitate buyouts, recapitalization and growth investments in manufacturing, distribution and service companies.
According to the statement, Pacific Air Cargo is the premier provider of air cargo and air freight logistics services between Los Angles and Hawaii and throughout the South Pacific islands.
PAC’s sister company, Aloha Contract Services, was also acquired as part of the transaction.
Aloha Contract Services provides key aircraft and ground handling services at airports across the Hawaiian Islands.
