Piper Sold to Asia-Based Finance House

American Capital has sold its 100 percent interest in Piper Aircraft to Imprimis, a corporate finance and management company with offices in Bangkok, Singapore and Brunei Darussalam. Piper President James Bass said he is confident the change in ownership is a highly positive development for the airframer. Imprimis has revealed it expects to leverage its ownership in Piper to stimulate general aviation outside North America, specifically in Asia. At the same time, it is expected that Piper will be well supported in its core business here in the United States, with a stated commitment to retaining company headquarters in Vero Beach, Florida. Also, Imprimis has pledged to continue development of the single-engine PiperJet. Imprimis Managing Partner Stephen Berger said, "Imprimis sees this acquisition as a perfect fit as we develop plans for Piper's continued growth in its existing markets and for significant expansion within the Asian markets where much of our focus lies." He also said that Imprimis had been looking for some time to invest in an aviation company. Piper's Bass said, "Imprimis' commitment to grow Piper in both existing and emerging markets comes at a time when we are poised to enter a new era in aviation history."