Kingswood Capital Management and its affiliates have entered into a definitive agreement to acquire Safran Passenger Innovations (SPI) from Safran.
The transaction to acquire SPI, a global in-flight entertainment and connectivity solutions company based in Brea, California, is expected to close early next year subject to customary legal and regulatory requirements. Kingswood says its acquisition of SPI is driven by a shared vision of positioning the company to deliver transformative, next-generation solutions that redefine industry standards while ensuring seamless business continuity and operational stability.
SPI’s award-winning in-flight entertainment and connectivity platform RAVE, has been recognised for its intuitive design, reliability, and innovative approach. Kingswood Capital Management has confirmed that Matt Smith will continue to serve as SPI’s CEO, with the entire SPI leadership team remaining in place. Smith commented: “Our team has always been the driving force behind RAVE’s success, and this new chapter with Kingswood empowers us to take that success to the next level.
“Together, we are unlocking opportunities for accelerated growth, expansion, and investing in cutting-edge technologies that will redefine the in-flight experience. This partnership adds significant value to our company, enabling us to strengthen our capabilities while staying true to our company culture. I am confident that with the dedication of our people and the support of our new partners, we will shape a future that benefits our customers, employees, and stakeholders alike.”
Clayton Lechleiter, Principal at Kingswood, said: “We have conviction in Matt’s vision and believe firmly that with RAVE, he and his team have engineered a seamless platform that is the most reliable in market and results in the lowest total cost of ownership for many respected global airline customers. The products and services SPI has developed are key elements of both the passenger experience that travelers expect and the evolving marketing channels airlines are only beginning to monetise.”
Alex Wolf, Managing Partner and Founder of Kingswood commented: “We are elated that SPI and its RAVE platform are joining the growing Kingswood portfolio. This cross-border carve-out acquisition represents our second aerospace and defense investment at Kingswood.
“We saw this as an opportunity to partner with a great team with an exceptional, globally recognised product in a rapidly growing sector and are looking forward to working with Matt and the entire SPI team to support an exciting new phase of operations as a standalone company.”
