London-based private equity firm Rcapital has completed the acquisition of Adams Aviation Supply Company Limited from Incora in a corporate carve-out transaction, bringing new ownership to one of Europe's longest-established general aviation parts distributors while retaining its existing management team.

According to Aviation Business News, Adams Aviation is based in Crawley, West Sussex, and has operated as a distributor of parts and accessories to the general and business aviation maintenance sector since 1968. The company supplies airlines, operators, maintenance providers, armed forces and aircraft manufacturers through direct relationships with major component manufacturers.

Mark Rogers, general manager of Adams Aviation, described the acquisition as an exciting new chapter for the business. "We have a fantastic team, a loyal customer base and a well-earned reputation as the go-to distributor for general and business aviation across Europe. With Rcapital's backing and expertise in supporting businesses through complex transitions, we are confident in our ability to accelerate our growth plans, expand our capabilities and continue delivering the exceptional service our customers expect," he said.

Sam Duberley, investment director at Rcapital, said the firm had been consistently impressed by the quality of Adams Aviation's team, customer relationships and product breadth. "Adams Aviation is a business with a proud heritage and an excellent market position as Europe's leading general aviation parts distributor," he said.

Kevin Matthies, president of global hardware at Incora, said Adams Aviation had served the general aviation community with distinction during its time within the Incora group and expressed confidence in the business's prospects under Rcapital's ownership.

Rcapital specialises in acquiring and supporting businesses through complex transitions, providing strategic and operational backing to management teams as they pursue growth and capability expansion.

The transaction reflects continued private equity interest in the general and business aviation aftermarket, where independent parts distributors occupying specialist niches have demonstrated resilience and consistent demand across market cycles. The general aviation sector has experienced sustained activity in recent years, supported by strong business jet utilisation, growing private pilot numbers in key European markets and rising demand for maintenance services across ageing piston and turboprop fleets.

Adams Aviation's direct relationships with major component manufacturers and its established customer base across Europe position it as a strategically attractive asset for investors seeking exposure to the broader aviation aftermarket without the capital intensity of MRO operations or aircraft leasing.