Seabrook, NH — Private Jet Services Group (PJS) has secured $10 million in financing from RBS Citizens to continue its torrid growth through acquisition of top-tier competitors in the Third Party Logistics industry.
PJS has seen significant growth in the corporate aviation market and Greg Raiff, CEO of PJS, sees the RBS Citizens investment as further validation of the company’s expansion strategy, both organically and through acquisition.
“We think about our industry differently. Our management team is committed to executing for each client on a day-in, day-out basis, rather than striving to be the largest player in the space. This is a customized-solution business where cookie-cutter approaches have historically proven to fall short,” said Raiff. “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.”
“RBS Citizens and Private Jet Services Group are both companies that understand the value and importance of meeting the needs of their customers,” said Joe Carelli, President of RBS Citizens and Citizens Bank, New Hampshire. “We are pleased to work with PJS to provide a financing package that will help them execute on their growth strategy.”
PJS was founded by Raiff in 2003 with a strategy to build a leader in the aviation industry one client at a time, with a focus on personal attention. Today, the consultancy handles more than 1,000 flights a year around the globe.
About Private Jet Services Group
Private Jet Services Group is one of the three largest private aviation consulting firms in North America. Its clients include Fortune 500 companies, professional sports teams, collegiate sports teams, the world’s biggest bands, private fliers and government workers. PJS offers fully tailored on-demand aviation solutions to its clients. Visit http://pjsgroup.com <http://pjsgroup.com/> for more information.
About RBS Citizens Financial Group, Inc.
RBS Citizens Financial Group, Inc. is a $127 billion commercial bank holding company. It is headquartered in Providence, R.I., and through its subsidiaries has approximately,400 branches, approximately 3,600 ATMs and more than 19,000 colleagues. Its two bank subsidiaries are RBS Citizens, N.A., and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont; and the Charter One brand in Illinois, Michigan and Ohio. RBSCFG has non-branch retail and commercial offices in more than 30 states. RBSCFG is owned by RBS (the Royal Bank of Scotland Group plc). RBSCFG’s website is citizensbank.com.