Private equity firm Crestview Partners has acquired concessionaire Tailwind Hospitality from Palladin Consumer Retail Partners. Crestview invests in the company alongside aviation management firm AltitudeX Aviation Group and members of Tailwind’s existing leadership team including president and CEO Jeff Switzer, who will continue to lead the company.
“We believe Tailwind is a differentiated market leader providing comprehensive service in its niche focus areas with significant potential for expansion,” said Bradford Williams, partner and co-head of industrials at Crestview. “We identified the aviation and airport services market as an attractive area for investment post-COVID. We believe Tailwind is poised to benefit from strong secular tailwinds and a growing captive customer base as shifting travel priorities, evolving passenger expectations and purchasing behavior trends drive airports and airlines to focus more on the customer experience. Jeff and the rest of the management team have done an excellent job leading the business and we are thrilled to partner with them to help drive the Company’s next phase of organic and acquisition growth.”
“We are incredibly excited to partner with Crestview as we pursue the next phase of Tailwind’s growth,” added Switzer. “Crestview’s and AltitudeX’s significant experience and expertise in our industry and scaling businesses make them a strong fit for our platform, and we believe this partnership will enhance our ability to serve our airport partners, brand partners, and teams across the country. We have enjoyed building the company with Palladin and thank them for their years of collaboration. Importantly, our day-to-day operations and commitment to delivering best-in-class service to our airport partners will remain unchanged, and we look forward to continuing to build Tailwind with the same focus and discipline.”
