Job Aire Group, which provides staffing services to the aviation industry, filed on Wednesday with the SEC to raise up to $8 million in an initial public offering.
The Tucson, AZ-based company plans to raise $8 million by offering 1.6 million shares at a price range of $4.50 to $5.50. At the midpoint of the proposed range, Job Aire Group would command a market value of $53 million.
Job Aire Group provides comprehensive staffing solutions across various facets of the aviation industry, with a focus on providing aviation mechanics and technicians to American aircraft maintenance facilities. The company currently sources approximately 96% of its employees from Mexico and Chile, both of which are covered by its recruiting office in Mexico.
Job Aire Group was founded in 2007 and booked $30 million in revenue for the 12 months ended March 31, 2024. It plans to list on the NYSE American under the symbol JAG. The company filed confidentially on February 13, 2024. Spartan Capital Securities is the sole bookrunner on the deal.
