Tailwind Hospitality Inc., a Wilmington-based airport and train concession company, has been acquired by Crestview Partners, a New York-based private equity firm.

Jeff Switzer, Tailwind’s CEO and president, will continue to lead the company following the acquisition, according to a press release. 

“We are incredibly excited to partner with Crestview as we pursue the next phase of Tailwind’s growth,” said Switzer in the press release. “Importantly, our day-to-day operations and commitment to delivering best-in-class service to our airport partners will remain unchanged and we look forward to continuing to build Tailwind with the same focus and discipline."

The financial terms of the transaction were not disclosed in the press release, and Crestview did not immediately respond to a request for comment. 

AltitudeX Aviation Group, a Denver-headquartered private equity firm focused on aviation and aerospace, partnered with Crestview to complete the sale, according to the release. Members of the AltitudeX and Crestview teams will join Tailwind’s board of directors, along with Switzer, the press release states. 

Tailwind was previously acquired by Boston-based private investment firm Palladin Consumer Retail Partners, LLC in 2021, according to its website. That same year, Tailwind acquired Memphis-based airport concession company Air Host, Inc., making it “a leading airport concession platform,” according to its website. The company said that following the acquisitions, “there were no organizational changes at Tailwind and all members of the executive team were retained.”

Founded in 2004, Tailwind operates more than 115 food and beverage locations at 61 transportation locations, according to its website. In 2024, the company acquired Florida-based concessions company Oakwells and concession operations at Phoenix-Mesa Gateway Airport from Kind Hospitality, according to a press release on its website.