Lingate completes sale of Spectrum Aeromed to Heartland Equity Partners

Lingate completes sale of Spectrum Aeromed to Heartland Equity Partners

Heartland Equity Partners announced that it has partnered with the leadership team of Spectrum Aeromed to acquire the company, which is headquartered out of Fargo, North Dakota. The 28-year old company designs and manufactures customized air ambulance equipment for fixed- and rotary-wing aircraft all over the world.

“The entire team at Spectrum Aeromed is excited about Heartland’s investment in our company’s future. Our new partners at Heartland are focused on our growth and long-term success,” said Chad Kost, chief operating officer for Spectrum Aeromed. The investment sets the stage for further advancements in new product design and innovation, supplemental type certificate (STC) development, channel delivery, and customer/supplier support, which creates exciting opportunities for Spectrum Aeromed’s employees, customers and suppliers. All 24 employees in Fargo will stay with the company, as well as the two remote offices located in Knoxville, Tennessee, and Friedberg, Germany.

Lingate Financial Group represented the owners of Spectrum Aeromed in the transaction and conducted a national marketing effort on their behalf. Founded in 1945, Lingate helps business owners with market-based valuations, business sales, mergers, acquisitions, recapitalizations, and internal transitions among family members, partners and management.