McWane, Inc., headquartered in Birmingham, Alabama, is one of the world’s largest privately held manufacturing companies. To service its growing business, over the years McWane acquired two lear jets as well as substantial shares in several Netjets aircraft. Its CFO, Charlie Nowlin, came to us when McWane determined that it could reduce its flying costs by selling its aircraft and going exclusively with fractional. Candidly, Netjets tried to convince Charlie that Shaircraft couldn’t add value for them. However, after talking in depth with our CEO, James Butler, as well as with some client references, Charlie decided otherwise. We assisted his outside counsel with the sale of the lear jets, and handled the fractional negotiations, adding a number of valuable concessions that Netjets hadn’t initially offered. Indeed, our prior experience with Netjets enabled us to “cut to the chase” and achieve these results while avoiding a lot of unproductive back and forth that a less experienced negotiator might have encountered. Charlie is a numbers guy, so when he quantified both the value of what we achieved and the expeditious manner in which we achieved it, he was quite pleased.
“[We] went to 100% fractional aircraft and needed to renegotiate our original agreements and add more fractional shares. After some research, we located Shaircraft Solutions and after talking with Jim and checking references, we determined he would add real value to the new shares. Shaircraft exceeded our expectations in negotiating the details of the contracts and in making sure we received the maximum value in the new shares. Shaircraft was a pleasure to work with, they were always available to advise us through the negotiations and we received significantly more value for our investment because of their knowledge, expertise and negotiating skills. Fractional ownership of aircraft is such a niche type of arrangement, we can’t imagine navigating the agreements and the values without Shaircraft who understands the industry so well.”