Macquarie Group Partners with Universal Wx
Global investment and financial management firm Macquarie Group has partnered with Houston-based trip services provider Universal Weather & Aviation. According to the terms of the agreement–currently undergoing regulatory review–Greg Evans, owner of Universal, will sell approximately 45 percent of the financial interest to the Macquarie Consortium. According to Universal, which employs about 1,300 people worldwide, the company will retain its autonomy as well as its current leadership, with Evans continuing as chairman of the board, Ralph Vasami as president and CEO, Dave Diulus as COO and Doug Kelley as CFO. Two of Macquarie’s officers will join Universal’s board of directors. For Macquarie, the acquisition represents deeper entrenchment in the business aviation industry, according to Michael Cook, CEO of Macquarie Capital Alliance Group.