American Capital has sold its 100 percent interest in Piper Aircraft to Imprimis, a corporate finance and management company with offices in Bangkok, Singapore and Brunei Darussalam. Piper President James Bass said he is confident the change in ownership is a highly positive development for the airframer. Imprimis has revealed it expects to leverage its ownership in Piper to stimulate general aviation outside North America, specifically in Asia. At the same time, it is expected that Piper will be well supported in its core business here in the United States, with a stated commitment to retaining company headquarters in Vero Beach, Florida. Also, Imprimis has pledged to continue development of the single-engine PiperJet. Imprimis Managing Partner Stephen Berger said, “Imprimis sees this acquisition as a perfect fit as we develop plans for Piper’s continued growth in its existing markets and for significant expansion within the Asian markets where much of our focus lies.” He also said that Imprimis had been looking for some time to invest in an aviation company. Piper’s Bass said, “Imprimis’ commitment to grow Piper in both existing and emerging markets comes at a time when we are poised to enter a new era in aviation history.”
Piper Sold to Asia-Based Finance House
Key Takeaways:
- American Capital sold its 100% interest in Piper Aircraft to Imprimis, an Asian-based corporate finance and management company.
- Imprimis plans to leverage Piper to stimulate general aviation in Asian markets while also supporting Piper's core business in the United States.
- The new ownership committed to retaining Piper's headquarters in Vero Beach, Florida, and continuing the development of the single-engine PiperJet.
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