Onex Partners via its Onex Partners Opportunities Fund, TriWest Capital Partners, and other co-investors have agreed to acquire AirSprint.
Onex Partners via its Onex Partners Opportunities Fund, TriWest Capital Partners, and other co-investors have agreed to acquire AirSprint Inc.
AirSprint’s Founder & Chairman Judson Macor, President & CEO James Elian, and certain of its current shareholders will remain investors following the closing of the transaction.
Following the transaction’s closing, Macor will become chairman emeritus, with Elian continuing in his executive role and remaining on the company’s board.
AirSprint operates the largest fractional fleet in Canada with over 40 private jets.
It is headquartered in Calgary with offices in Toronto and Montréal.
The company has over 600 fractional owners in its program.
Its 38,000 flight hours in 2024 would have ranked it eighth on our U.S. list of fractional and charter operators.
It is regularly named to Canada’s Best Managed Companies list.
Per the announcement, “The investment will support AirSprint’s next phase of growth, including fleet expansion, operational enhancements, technology investments, and strategic initiatives designed to further strengthen its leadership position in the Canadian private aviation market.”
Onex Partners is Onex Corporation’s upper-middle-market buyout strategy, focused on equity investments in North America and Europe.
Onex Partners has invested over $22 billion across six funds.
It has acquired 53 operating company platforms.
It has also completed more than 590 add-on acquisitions.
Onex has invested $7 billion in co-investment capital across 24 opportunities since inception.
TriWest has raised over C$1.7 billion in committed capital through seven funds.
It has invested in 52 companies across a broad cross-section of the economy in partnership with their management teams.
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“For the past 26 years, AirSprint’s success has been built on the trust, dedication, and support of our employees, fractional owners, partners, suppliers, and shareholders. I am deeply grateful to everyone who has contributed to our journey and helped establish AirSprint, Canada’s leading private aviation company,” Macor said.
He continued, “Today marks an exciting new chapter as we welcome Onex and its co-investors as our first institutional investors.”
Macor called the deal a “strong endorsement of the business we have built and the opportunities ahead, and their experience, resources, and long-term perspective will help support AirSprint’s continued growth.
He said, “I am pleased to remain a significant shareholder and member of the board of directors, and I look forward to working alongside Onex, our leadership team, and our employees as we continue building on AirSprint’s strong foundation.”
Elian said:
‘What makes AirSprint special is our people. Across the country, our team shows up every day with a deep commitment to our Fractional Owners and to the standards that have built AirSprint’s reputation. As we enter this next chapter, I am excited to work with Onex, whose commitment to supporting our team, serving our Fractional Owners, and advancing AirSprint’s long-term vision gives me great confidence that AirSprint will continue delivering the safety, service, reliability, and value our Fractional Owners depend on today and will expect in the years ahead’’
Faiz Hemani, a Managing Director at Onex Partners, said, “Judson Macor founded and grew the company from a single aircraft into a national private aviation platform defined by an uncompromising dedication to its fractional owners, and we’re proud to help carry that legacy forward.”
He added, “We’re excited to back James Elian and the entire team to execute their plan to grow AirSprint’s core business, expand its offerings, and continue to deliver the safety standards and white-glove service that set AirSprint apart.”
Goodmans LLP acted as Canadian legal counsel, Kirkland & Ellis LLP acted as U.S. legal counsel.
DLA Piper LLP acted as aviation regulatory counsel.
RBC Capital Markets acted as exclusive financial advisor to Onex Partners and its co-investors.
Blake, Cassels & Graydon LLP acted as legal counsel, and CIBC Capital Markets acted as financial advisor.
Jefferies, LL, C acted as financial advisors to AirSprint.
The transaction is expected to close in the third quarter of 2026.
Terms of the deal were not announced.
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