Key Takeaways
- • Onex Partners and TriWest Capital Partners have agreed to acquire AirSprint, Canada's largest fractional private jet operator, with the transaction expected to close in Q3 2026; deal financial terms were not disclosed.
- • AirSprint operates a fleet of 44 aircraft (Textron Aviation Citations and Embraer midsize/super-midsize jets) serving over 600 fractional owners and 400+ employees across North American and international routes including Europe and the Caribbean.
- • Founder Judson Macor and CEO James Elian will retain equity stakes in the acquisition, with Macor transitioning to chairman emeritus and Elian remaining as chief executive; both will serve on the board.
- • Onex Partners brings $56 billion in assets under management and a track record of $22 billion invested across six funds with 53 operating platforms acquired; TriWest has raised over C$1.7 billion across seven funds and invested in 52 companies.
- • The acquisition is positioned to fund fleet expansion, operational enhancements, technology investments, and strategic initiatives to strengthen AirSprint's leadership position in the Canadian private aviation market.
Summary
Onex Partners' Onex Partners Opportunities Fund, TriWest Capital Partners, and co-investors have agreed to acquire AirSprint, Canada's largest fractional private jet operator. The transaction is expected to close in the third quarter of 2026. While specific deal valuation and financial terms were not disclosed in the announcement, the acquisition represents a significant consolidation move in the Canadian private aviation sector.
AirSprint, founded in 2000 and headquartered in Calgary, operates a fleet of 44 aircraft comprising Textron Aviation Citation light jets and Embraer midsize and super-midsize aircraft. The company serves over 600 fractional owners through programs that guarantee availability and contracted rates for private jet flights across Canada, North America, the Caribbean, and Europe. The company employs over 400 people and ranks eighth among North American operators based on fractional and charter flight hours.
Onex Partners brings substantial institutional firepower to the transaction, with $56 billion in assets under management—including $9.4 billion of the firm's own investing capital. Since inception, Onex has invested $22 billion across six funds, acquired 53 operating company platforms, and completed over 590 add-on acquisitions. TriWest Capital Partners has raised over C$1.7 billion in committed capital through seven funds and holds investments in 52 companies, providing complementary expertise in the deal structure.
Founder Judson Macor and CEO James Elian will retain meaningful equity stakes in the acquired company, signaling management continuity and founder confidence in the PE partnership. Macor will assume the position of chairman emeritus while Elian continues as chief executive, with both remaining on the board of directors. According to the announcement, the acquisition will support AirSprint's "next phase of growth," focusing on fleet expansion, operational enhancements, technology investments, and strategic initiatives designed to strengthen its leadership position in the Canadian private aviation market.
AirSprint, founded in 2000 and headquartered in Calgary, operates a fleet of 44 aircraft comprising Textron Aviation Citation light jets and Embraer midsize and super-midsize aircraft. The company serves over 600 fractional owners through programs that guarantee availability and contracted rates for private jet flights across Canada, North America, the Caribbean, and Europe. The company employs over 400 people and ranks eighth among North American operators based on fractional and charter flight hours.
Onex Partners brings substantial institutional firepower to the transaction, with $56 billion in assets under management—including $9.4 billion of the firm's own investing capital. Since inception, Onex has invested $22 billion across six funds, acquired 53 operating company platforms, and completed over 590 add-on acquisitions. TriWest Capital Partners has raised over C$1.7 billion in committed capital through seven funds and holds investments in 52 companies, providing complementary expertise in the deal structure.
Founder Judson Macor and CEO James Elian will retain meaningful equity stakes in the acquired company, signaling management continuity and founder confidence in the PE partnership. Macor will assume the position of chairman emeritus while Elian continues as chief executive, with both remaining on the board of directors. According to the announcement, the acquisition will support AirSprint's "next phase of growth," focusing on fleet expansion, operational enhancements, technology investments, and strategic initiatives designed to strengthen its leadership position in the Canadian private aviation market.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.