Posted on February 20th, 2019
Cirrus Aircraft announced yesterday that it has secured funding to complete the composite single-engine Vision SF50 jet from company owner China Aviation Industry General Aircraft (Caiga). Development of the single-engine Vision jet slowed during the recession. When Caiga purchased Cirrus for an estimated $210 million last June, the company said that development of the Vision…
Posted on June 29th, 2011
China Aviation Industry General Aircraft (Caiga) of Zhuhai, China, completed its acquisition of Duluth, Minn.-based Cirrus Aircraft today. Sellers include private-equity firm Arcapita, which owned 60 percent of Cirrus, and minority shareholders (including former Cirrus chairman and co-founder Alan Klapmeier). The plan to buy 100 percent of the light aircraft manufacturer for an estimated $210…
Posted on April 27th, 2011
An eleventh-hour attempt by aviation consultant Brian Foley to assemble investors to submit a counter-offer to the reported $210 million bid for Cirrus Aircraft has gone into a holding pattern. “The initial investor response was swift and encouraging,” Foley said today in a statement to the press. He has been assembling interested investors since mid-March.…
Posted on March 7th, 2011
Cirrus Aircraft president and CEO Brent Wouters announced yesterday morning that China Aviation Industry General Aircraft (Caiga) has signed an agreement to purchase 100 percent of Cirrus Aircraft from the several hundred shareholders that own the Duluth, Minn.-based light aircraft manufacturer. Sellers include private-equity firm Arcapita, which owns 60 percent of Cirrus, and minority shareholders…