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A v i at i o n E q u i t y S p o n s o r s h i p
Fundless sponsors are experienced industry-specic companies with deep nancial expertise that
originate and execute buyout transactions through the use of private capital. Unlike traditional
private equity funds they do not raise a pool of committed capital prior to entering the operating
stage of buying private companies; rather they provide the experience and expertise to a
transaction which facilitates its funding.
Benets of the Fundless Sponsor model in aviation infrastructure and service company
transactions:
Not bound by the restrictive size and holding time horizons of traditional funds, this approach
takes a exible and bespoke approach to execute on unique opportunities presented in the
aviation industry
Less expensive to the equity investor than a mainstream private equity approach
The aviation infrastructure and services segment is an appropriate market for fundless sponsorship of
transactions for several reasons:
First, apart from whole commercial airport transactions, aviation assets (both infrastructure and service
companies) are usually too small for institutional investors; fundless sponsors oer a proven vehicle to invest
in smaller assets in an expense ecient manner
As the aviation infrastructure and service markets are highly fragmented, they are uniquely situated to rollup
strategies which create new platforms and networks
Fixed Base Operators (FBOs), Maintenance Repair and Overhaul (MRO) companies and Aircraft Charter and
Management (ACM) companies are excellent examples of service companies which possess the attributes
and characteristics suitable for this strategy
They are real assets with infrastructure attributeslong lives, high barriers to entry and low risk of sudden
disruption
Private capital sources implementing a direct aviation infrastructure investment strategy through a fundless
sponsor benet not only from a lower expense structure but also from the depth and breadth of an
experienced management team with a proven track record in private equity
Steven Levesque
Mr. Levesque originally entered the aviation services industry in 1995. In 1998, following the rst Carlyle Group
sponsored transaction which resulted in the formation of Piedmont Hawthorne Holdings, Inc., Mr. Levesque
took responsibility for corporate development and mergers & acquisitions for that company. In 2003, he was
appointed Senior Vice President & Chief Financial Ocer and led the transformational merger of Piedmont
Hawthorne with Garrett Aviation Services, serving as CFO of the combined companies until the integration
eort was complete. Under the Landmark Aviation operating name he led merger and acquisition activity until
January 2007 when he moved back to Hawthorne.
He was appointed President of Hawthorne Corporation in April, 2008 and President & CEO of Hawthorne FBO
Holdings, LLC and Hawthorne Global Aviation Services in 2010.
Prior to joining Hawthorne, he was an account executive for Bank of America from 1993 to1995 and served on
active duty as a naval ocer from 1989 to 1992. He retired in 2015 as a Commander in the Navy Reserve
having held the position of Commanding Ocer of a commissioned expeditionary combat logistics unit
headquartered in Gulfport, MS.
Mr. Levesque graduated from the University of North Carolina Chapel Hill Kenan-Flagler Business School with
a B.S.B.A. concentrating in nance and earned his M.B.A. at The Citadel.
Directed comprehensive analysis of investments, including tax/ cash ow implications; strategy resulted in
unprecedented gain in internal rate of return.
Value Returns. Infrastructure Risk TM CONFIDENTIAL & PROPRIETARY 9
St e v e n l e v e s q u e
Planned and provided key mission support for operations and campaigns in numerous countries, including Iraq,
Antarctica, Australia, Bahrain, Hawaii, Korea, Japan, Guam, Guatemala, the United Arab Emirates, and Singapore.
Awarded Meritorious Service Medal in recognition of outstanding service.
Thought Leadership
Mr. Levesque is a sought after thought-leader in the aviation & infrastructure elds. In addition to his 20 year career as a senior
executive with Hawthorne Global Aviation Services, Landmark Aviation and Piedmont Hawthorne, Mr. Levesque is a member of
the President's Council of the National Air Transport Association (NATA) and Wings Club. In his leadership capacity with NATA he
meets with members of Congress and their stas on general aviation public policy issues. In the past years, Mr. Levesque has
been cited over 50 times in national media (Marketwatch, Yahoo! Finance, etc.), general aviation industry publications (Aviation
International News, Business & Commercial Aviation, Flying, Airport Business, Aviation Pros, etc.) and regional media outlets
(Newsday, New Orleans City Business Journal, Charleston Business Journal, etc.).
Mr. Levesques most recent article, Questions for Steven Levesque published in the January 2015 issue of Business &
Commercial Aviation is available at: http://aviationweek.com/business-aviation/questions-steven-levesque
Deep experience working with major nancial sponsors over the last 20 years in nancial and operational roles
(primarily CFO & CEO):
Citicorp Venture Capital: RES Associates of GA, FBO acquisition/management/expansion of Hawthorne
Aviation chain
The Carlyle Group (CP II): Formation/rapid expansion of Piedmont Hawthorne (now Landmark)
Lincolnshire Management: FBO acquisition and general aviation advisory and due diligence
The Carlyle Group (CP III): Acquisition of Garrett Aviation Services and creation/rapid expansion of
Landmark Aviation
GTI Capital Group: Acquisition and management of leading MRO/ACM company in India
Moelis Capital Partners: Formation of Hawthorne FBO Holdings LLC and creation of 5 location chain
2011-2015
Led by an aviation industry executive with over twenty years experience operating under
private equity ownership, the company is exceptionally positioned to lead further consolidation
in the aviation infrastructure and services segments.
With an extensive network of industry contacts, Global Aviation Infrastructure can provide
While the company will provide turnkey management, ultimate board and voting control
remains with the direct equity investors. For more information, please visit our website at
www.aviationinfrastructure.com.
+1 (843) 412-6881