Kingswood Capital Management, a private investment firm based in Los Angeles, has completed its acquisition of Safran Passenger Innovations (SPI), a supplier of in-flight entertainment and connectivity (IFEC) technologies, from Safran. As part of the transaction SPI has been renamed as RAVE Aerospace, as a key focus of the company will be its RAVE brand IFEC platforms, currently flying with more than 100 customers.
Clayton Lechleiter, principal at Kingswood, said of the deal, “The travel and aviation markets are expanding rapidly, and RAVE Aerospace’s renaming and renewed focus on growth could not come at a better time. Passengers today expect a seamless, intuitive, and connected experience in the air. RAVE Aerospace delivers on that expectation with a platform that combines reliability, innovation, and efficiency.”
Matt Smith will continue to serve as CEO of the company, supported by the existing leadership team at the company’s headquarters in Brea, California, tasked with accelerating the growth of RAVE Aerospace as a global provider of IFEC) technologies for airlines, lessors, and aircraft manufacturers.
“We are proud to introduce our new company name, built on the strength of the established RAVE brand,” said Matt Smith, CEO of RAVE Aerospace. “It reflects the strong heritage of our in-flight entertainment and connectivity platform, RAVE, which delivers measurable value to more than 100 customers around the world.
“Our next chapter with Kingswood Capital Management empowers us to reach new heights. With our partnership, we’ll be able to unlock opportunities for accelerated growth, expansion, and investment in cutting-edge technologies that will redefine the in-flight experience.”
