Corrum Capital Management LLC (“Corrum”), an independent, private investment firm focused on cashflow-oriented investment strategies with structural or collateralized downside protection, announced today that it completed a single-asset continuation fund allowing it to continue its partnership with AvAir LLC (“AvAir” or the “Company”). The transaction provided liquidity to Corrum’s existing limited partners and follow-on capital to support the Company’s rapid growth and expansion. The transaction was led by New 2ND Capital, a GP-led secondaries specialist focused on the North American middle and lower middle market.

Founded in 2000, AvAir is a leading provider of value-added aftermarket solutions to the global aerospace and defense industry, serving a diverse base of clients including maintenance and repair organizations, airlines, distributors, and original equipment manufacturers. Since Corrum’s initial investment in 2019, AvAir has grown significantly, expanded internationally, and expanded its product offering to customers evidenced by being named Parts Supplier of the Year for 2021, 2022, 2023 and 2024 by Airline Economics, the leading industry trade publication.

"We are delighted to further continue our strong partnership with AvAir as the Company continues to execute on its long-term strategic plan. The Company’s impressive ability to deepen its relationships with a global customer base while navigating unprecedented pandemic-era market conditions is a testament to an exceptional management team led by CEO Mike Bianco. We are grateful for the support of our existing investors and look forward to our newly established partnership with New 2ND Capital,” said Jason Cipriani, Co-Managing Partner of Corrum.

Metric Point Capital acted as the exclusive financial advisor for the transaction. Winston & Strawn served as legal counsel for Corrum Capital Management.

About Corrum Capital Management

Corrum Capital Management LLC is an independent, private investment firm that takes an active and asset-level approach to cashflow-oriented investing, with an emphasis on downside protection, low market correlation and diversifying characteristics. Corrum Capital currently has active investments in asset and collateral-backed strategies, primarily within the music, entertainment, and sports industries and the commercial aviation industry. Our demonstrated expertise, strong global network, and active investment approach allow us to deploy capital effectively across operationally intensive investments. For more information, please visit: https://www.corrumcapital.com/.

About AvAir

Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir has been named Parts Supplier of the Year for 2021, 2022, 2023 and 2024 by Airline Economics, the leading industry trade publication. It has also been recognized for its work in sustainability by The Aviation 100, AvAir received the Environmental Sustainability award and is Climate Neutral Certified. For more information, please visit: https://avair.aero/.

About New 2ND Capital

New 2ND Capital is a private equity firm investing in middle market companies in the US through GP-led secondaries transactions, including continuation funds, fund restructurings and spin outs. New 2ND Capital funds and vehicles have over US$2.3 billion regulatory assets under management per June 30, 2024. The firm was founded in 2016 and is currently investing its third program. New 2ND Capital is based in New York. For more information, please visit: www.new2ndcapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204639609/en/