Cassel Salpeter Advises The Xtreme Group in Its Sale to Heartwood Partners
MIAMI – September 22, 2026 – Cassel Salpeter & Co., an independent investment banking firm that provides advisory services to middle-market and emerging growth companies, served as the exclusive financial advisor to The Xtreme Group (“TXG”) in its sale to Heartwood Partners.
Founded in 2013, TXG is a leading independent, full-service aviation maintenance, repair, and overhaul (MRO) platform based in Miami. The transaction encompasses TXG’s key subsidiaries: Xtreme Aviation LLC, an FAA Part 145 certificated airframe and line maintenance provider; Ignite Aero Engines, an FAA Part 145 engine MRO specializing in CFM56 and CFM34 engines; and Aventus Air Leasing II, which focuses on the sale and leasing of aircraft and engines.
The acquisition supports TXG’s long-term growth strategy of expanding into new markets, generating further synergies between its complementary lines of business, and providing a single-source MRO solution that eliminates delays often associated with outside vendors.
Heartwood Partners is a Norwalk, Connecticut-based private equity firm founded in 1982. This transaction represents a new platform investment for Heartwood in the aviation sector.
“TXG has built a true single-source platform spanning airframe, engine, and leasing capabilities – exactly the kind of durable, diversified aviation business that’s prime for investment right now, and we’re pleased to have advised them in this transaction with the team at Heartwood,” said Joey Smith, director of Aviation Services at Cassel Salpeter. “We’re confident that Heartwood is an ideal partner to support TXG’s continued growth and long-term success.”
“The Cassel Salpeter team was an integral part of our new partnership with Heartwood,” said TXG Chief Executive Officer Carlos Cock. “From making the original introduction to driving the process along every step of the way, they took the time to properly understand our company and how we could create additional value for our stakeholders and our industry.”
The Cassel Salpeter team was led by President Scott Salpeter and Director of Aviation Services Joey Smith, with assistance from Senior Associate Eddie Kropf.
Brad West and Fern Watts of West PLC served as legal counsel to the seller.
Heartwood Partners has been advised by Finn Dixon & Herling LLP and Greenberg Traurig, LLP.
About Cassel Salpeter & Co.:
Cassel Salpeter & Co. LLC is an independent investment banking firm providing advice to middle market and emerging growth companies in the United States and worldwide. The firm’s professionals have more than 150 years of combined experience advising private and public companies on a broad range of investment banking and financial advisory services, including mergers and acquisitions; equity and debt capital raises; fairness and solvency opinions; valuations; and restructurings, including 363 sales and plans of reorganization.
Co-founded by James S. Cassel and Scott Salpeter, the firm provides objective, unbiased, results-focused services grounded in rigorous analysis and transaction-specific insight aligned with each client’s objectives. The firm’s partners are personally involved at every stage of each engagement and have built long-standing relationships and completed hundreds of transactions and assignments nationwide.
The firm’s headquarters are in Miami. Member FINRA and SIPC. More information is available at www.CasselSalpeter.com.
