Kingswood Capital to Acquire Safran Passenger Innovations
Safran Passenger Innovations (SPI), a leading provider of inflight entertainment and connectivity (IFEC) solutions for airlines and aircraft manufacturers, is set to be acquired by Kingswood Capital Management, a Los Angeles-based investment firm. The deal involves SPI being carved out from its parent company, Safran, with the transaction expected to close early next year pending customary regulatory approvals.
Kingswood, which manages a US$1.5 billion fund and invests in middle-market companies, has entered into a definitive agreement to purchase SPI. CEO Matt Smith will remain in his role, and the entire leadership team will continue to lead the company through this new phase.
SPI, headquartered in Brea, California, is best known for its RAVE IFEC platform, which is used by airlines around the world. Kingswood says its investment will support the development of next-generation IFEC technologies while ensuring continuity for airline customers and employees.
Matt Smith highlighted the significance of the acquisition, noting that the partnership will accelerate innovation and growth: “Our team has always been the driving force behind RAVE’s success, and this new chapter with Kingswood empowers us to take that success to the next level. Together, we are unlocking opportunities for accelerated growth, expansion, and investing in cutting-edge technologies that will redefine the in-flight experience.”
Kingswood leaders expressed strong confidence in SPI’s direction. Clayton Lechleiter praised the reliability and low cost-of-ownership of the RAVE platform, while Alex Wolf emphasised the strategic importance of the acquisition within the rapidly expanding aviation technology sector.
The move marks Kingswood’s second investment in aerospace and defence and positions SPI for a new era of standalone operations, continued product development and global expansion.
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Sources: AirGuide Business airguide.info, bing.com, aircraftinteriorsinternational.com