Flexjet (LXJ, Cleveland Cuyahoga Country) has secured USD800 million in a funding round led by United States-based private equity firm L Catterton, backed by French holding company LVMH, with participation from affiliates of KSL Capital Partners LLC and J Safra Group.
"L Catterton, with its special relationship with LVMH and its family of brands, provides the perfect opportunity for collaborating in areas such as consumer insights, brand strategies, retail expansion, and luxury product delivery," said Kenn Ricci, Flexjet’s chairman.
A Flexjet spokesperson told ch-aviation the company is only beginning to explore the possibilities offered by the LVMH connection and cannot yet share specific plans. However, Flexjet already works with other luxury brands, such as its recent collaboration with Ferretti Group and Riva.
In comments to the Financial Times, Ricci said the funding comes as Flexjet seeks to expand its fleet to meet growing demand from technology and cryptocurrency entrepreneurs. The latest round valued the company at approximately USD4 billion. Jefferies Group, Morgan Stanley & Co, and Goldman Sachs acted as advisers in the deal.
Earlier this year, Flexjet firmed an order with Embraer Executive Jets for 182 aircraft plus 30 options, comprising mainly Praetor 500 and Praetor 600 jets, alongside a number of Phenom 300E aircraft. Despite recently announced tariffs announced by the United States administration on Brazilian imports, Flexjet remains committed to the deal.
"We are also looking to expand the fleet in other ways and look forward to sharing more news in due course," the spokesperson told ch-aviation.
In late 2024, the company raised an additional USD500 million through a five-year unsecured notes issuance, using the proceeds to refinance aircraft and real estate debt, pay dividends, and bolster cash reserves.
