McGuireWoods advised longtime private equity client Summit Park in the recent acquisition of Thrust Flight, a professional flight training services company. For the deal, Summit Park partnered with Thrust co-founder and CEO Patrick Arnzen, senior management team members and AltitudeX Aviation, a firm of former senior aviation executives focused on middle market investments.
Headquartered in Addison, Texas, Thrust is a flight training school serving aspiring professional pilots. It offers students access to a modern fleet of aircraft and simulator-based instruction.
Summit Park is a Charlotte-based private investment firm focused on investing in lower middle market businesses. The recapitalization of Thrust marks Summit Park’s fifth platform investment in its fourth fund, Summit Park IV, L.P.
Partner H. Ramsey White III led the McGuireWoods deal team, which included partner Christian Brose, associates Timothy Malloy and Luis Benavides and lawyers from numerous practices and offices throughout the firm.
“This was complex transaction that required tremendous teamwork by attorneys across multiple McGuireWoods practices,” White said. “We were proud to assist Summit Park in closing this important deal.” McGuireWoods consistently ranks among the leading law firms for advising clients in M&A and private equity transactions in league tables published by the London Stock Exchange Group, Mergermarket and Bloomberg. The firm earned nationwide rankings for its M&A and private equity capabilities in the 2024 editions of Chambers USA and the Legal 500 United States.