H.I.G. Capital, LLC, a leading global private equity firm based in Miami, Florida, announced today that it is acquiring Flight Options LLC from Raytheon Company. Terms were not disclosed.

Flight Options, headquartered in Cleveland, Ohio, is a leading private jet aviation company that operates a fleet of 130 luxury aircraft to provide a full suite of services to businesses and high net worth individuals. The Company currently serves its customers primarily through fractional ownership programs and its JetPASS pre-paid card plan. In 2007, Flight Options also began offering aircraft management services – complementary offerings to better leverage the Company’s aircraft fleet and operating infrastructure.

Flight Options has earned a reputation as a leader and innovator within the private aviation industry with programs that emphasize customer service and flexibility. The Company provides its personalized service to owners and members from airport and FBO locations across United States and has strategically located service and maintenance operations in Cleveland, Ohio; Las Vegas, Nevada; Sacramento, California; Teterboro, New Jersey; and West Palm Beach, Florida. Flight Options’ current fleet consists of a full range of aircraft types, including Hawker 400XP, Hawker 850XP, Citation X and Embraer Legacy models. The Company is also an industry leader in private aviation safety. Flight Options is the first fractional provider to implement the FAA’s Aviation Safety Action Program (ASAP) for its pilots and maintenance professionals and the only fractional provider selected by the FAA to partner and participate in the development and implementation of the next generation Safety Management System (SMS), soon to be required for all air service providers.

“H.I.G. demonstrates a commitment to growth and excellence that mirrors Flight Options’ own values and approach and we look forward to working with them to further grow the Company,” said S. Michael Scheeringa, Chief Executive Officer of Flight Options. “As part of this combined growth strategy, we are also pleased to note that Flight Options is in final negotiations with Embraer on a long-term aircraft supply agreement that will continue to modernize our fleet and provide our customers with best in class aircraft.”

Doug Berman, a Managing Director of H.I.G., commented, “We view private jet aviation as an attractive, growing market with strong underlying fundamentals. Flight Options is uniquely positioned within its market to benefit from these dynamics and we are excited to partner with an exceptional management team to support the growth of Flight Options.”