Icon Aircraft’s Sale to SG Investment America Finalized for $15.8 Million
Following Chapter 11 bankruptcy, light sport aircraft manufacturer Icon will continue to operate under the same name.
(Vacaville, California) – On August 2nd, Icon Aircraft, the manufacturer of the A5 amphibious light sport aircraft, announced that it had officially sold its assets to SG Investment America for approximately $15.8 million; the transaction, finalized following bankruptcy proceedings, ensures the company will continue operating under the Icon Aircraft name.
Photo of the ICON A5 light amphibious sport aircraft atop an ICON inflatable dock courtesy of Icon Aircraft.
Icon filed for Chapter 11 bankruptcy protection in March alongside three affiliated entities: Rycon, IC Technologies, and Icon Flying Club. The bankruptcy filing took place in the United States Bankruptcy Court for the District of Delaware and can be found here.
In the Chapter 11 bankruptcy filing, Icon declared $170 million in debt, per Flying Magazine. This past June, legal filings showed SG Investment bought ICON for $15.79 million, according to Flying.
Outgoing CEO Jerry Meyer shared his appreciation for his time at the helm in a press release from Icon: “It has been an incredible honor to lead Icon Aircraft and work with such a passionate group of people. I wish them and the company nothing but success in this exciting new chapter," Meyer said in a press release on Icon’s website.
Taking over Icon’s reins during the transition is Jason Huang, who joined Icon Aircraft in 2020 as president.
Huang is optimistic about the company’s path forward: “ I am thrilled to be guiding Icon Aircraft into its next phase of growth. Our focus will be on ensuring a smooth transition and seizing new opportunities that will drive the company forward. The future holds great promise for Icon," he said.
Icon Aircraft will continue to operate its service centers in Tampa, FL, and Vacaville, California.
