Seabrook aviation consulting firm secures $10 million loan
SEABROOK — A local company that provides consulting services for private flight arrangements is getting an infusion of capital that will enable it to expand.
Private Jet Services Group, which has approximately 25 employees at 5 Batchelder Road, has secured $10 million in financing from RBS Citizens, company officials announced.
PJS Group is one of the largest private aviation-consulting firms in North America, said Greg Raiff, company CEO. Its clients include large corporations, professional sports teams, collegiate sports team, entertainment acts, private fliers and government workers.
The company contracts with various airlines and ground transportation providers to deliver complete travel arrangements for private or corporate flights, including coordination of customs, immigration, airport authority landing and ramp rights, as well as other services such as catering.
The company has seen significant growth in the corporate aviation market, said Raiff, and intends to move aggressively into cargo and freight forwarding, as well expansion of its existing passenger services.
The financing will also be used to acquire competitors in the same area of business.
“This is a customized-solution business where cookie-cutter approaches have historically proven to fall short,” Raiff said. “The substantial funding by RBS Citizens provides the unique opportunity to work with many companies that do a fantastic job in our industry, and we are looking forward to partnering with them.”
PJS was founded by Raiff in 2003 and today handles more than 1,000 flights a year around the globe.