Piper Aircraft has been sold.

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Member for

15 years 1 month

Posts: 8,829

As the headline says, Piper has been sold to investors, does this bode well for the company?:(

The new owner of Piper Aircraft Inc., is Imprimis, "a corporate finance and investment management firm that operates from its offices in Bangkok, Singapore and Brunei Darussalam," according to an Imprimis press release. Production and product development facilities will remain in Vero Beach, Fla., according to the new owners. Imprimis stated in a Friday press release that it fully supports PiperJet development and intends to aggressively expand Piper's activities, especially in Asia Pacific, targeting pilot training and both commercial and private flying clubs. Speaking for Imprimis, managing partner Stephen W. Berger said his company is dedicated to growing Piper in existing markets and Asian markets "where much of our focus lies."

He said Piper was, in spite of the worldwide recession, "strong and well-run, with a strong balance sheet" and backed by a "comprehensive product line." Piper currently manufactures seven models from the Warrior III to the Meridian, with a proof-of-concept PiperJet VLJ flying but still in development.


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Member for

11 years 1 month

Posts: 126

Given that the buyer is a 'Corporate Finance and Investment house', without any known involvement with aviation and, the target, Piper, has 'a strong balance sheet' and the stated aim is to take it into new product markets, that it is not familar or involved with, nor structured to deal with, how long would you give before assets are sold off, financial restructuring is carried out and the debt laden remains are given chapter 11. I only hope that I am wrong.

Cheers Brian.:D