San Marcos aviation company raises $24 million in financing

Feb 4, 2015
Austin Business Journal

Berry Aviation Inc. has reported raising a $24 million financing

The San Marcos-based charter airline company collected the capital from four investors, according to a Monday filing with the U.S. Securities and Exchange Commission. President Harry Berry III couldn't immediately be reached for comment

Berry Aviation started in 1983 with a twin-engine Piper Seneca airplane based at Austin's former Robert Mueller Municipal Airport. It relocated to San Marcos in 1993, and now employs about 200 workers, according to the company's website

In 2012, the Austin Business Journal reported that Berry Aviation issued $500,000 in preferred stock and took on $19.1 million in debt — transactions facilitated by Austin-based Focus Strategies Investment Banking. Berry Aviation planned to use the money for more government contracts, expand domestically and take on private sector work in Africa

In 2011, the company oversaw 13,000 flight operations in 24 countries covering almost 2.5 million miles. Company executives projected revenue of more than $60 million in 2012, with a large portion generated by government contracts

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