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CubCrafters Inc. Acquires Summit Aircraft Skis and Celebrates Contract Extension with US Government

  • CubCrafters has acquired Summit Aircraft Skis, including the company’s design and manufacturing assets, unique patents, and related intellectual property
  • The US Department of Agriculture Wildlife Service recently selected CubCrafters’ flagship FAA-certified CC19 XCub for a new government aircraft-fleet-modernization contract
  • CubCrafters is now offering investment opportunities through a Regulation A+ offering – managed through Manhattan Street Capital
CubCrafters, a producer of best-in-class Backcountry Aircraft, announced its acquisition of Summit Aircraft Skis, including the company’s design and manufacturing assets, unique patents, and related intellectual property, from the Summit Aircraft Corporation of Sandpoint, Idaho, last month. Its unique design allows pilots to quickly and easily configure aircraft when flying in remote and primitive areas, which are otherwise inaccessible during winter months when runways are not maintained. Summit Aircraft Skis are favored by CubCrafters’ Carbon Cub aircraft owners and preferred by the owners of many other types of backcountry capable aircraft. Patrick Horgan, President and CEO of CubCrafters, said he was very pleased to welcome Summit’s customers and products into the CubCrafters family. “It has been a joy for our team to work together with Mike Custard, Summit’s founder, to coordinate a smooth ski manufacturing transition. Adding Summit Skis to the CubCrafters product lineup allows us to better meet our customers’ needs and adds a new profit center,” Horgan explained (https://ibn.fm/K086W). “We see great potential for growth with the Summit brand that we want to be a part of going forward.” CubCrafters designs and manufactures Experimental, LSA, and Part 23 Certified aircraft. The Carbon Cub family of aircraft has redefined how pilots experience backcountry flying through innovative design, modern materials, powerful engines, and breakthrough performance. The company’s flagship XCub aircraft is offered in both nosewheel and tailwheel configurations and substantially expands the profile for sport utility aircraft with higher speeds, longer ranges, and larger payloads possible. CubCrafters’ key to success is its ability to create unique value in the experience of adventure aviation. For nearly two decades, CubCrafters has supplied aircraft to various United States Federal Government agencies, including the US Air Force Research Laboratory, US Air Force Fight Academy, US Department of Agriculture, US Department of Homeland Security, and the US Department of the Interior. Federal civilian agencies use CubCrafters aircraft for aerial survey missions, natural resource management, patrol, surveillance, and search and rescue missions – including the US Air Force, which has tested various sensors and glider towing. The US Department of Agriculture Wildlife Service recently selected CubCrafters’ flagship FAA-certified CC19 XCub for a new government aircraft-fleet-modernization contract, which will extend the company’s long-term working relationship with the government. A recent article in General Aviation News quotes Horgan as saying that the new contract was very important for CubCrafters as a supplier for the US government, but also for investors participating in the company’s ongoing public offering (https://ibn.fm/Nc3l0). “This sale demonstrates that our newest generation of fully certified modern utility aircraft can replace the aging fleet of legacy aircraft now in service. It shows that there is a very bright future for our fleet sales program.” CubCrafters was recently qualified by the Securities and Exchange Commission to make a $50 million public stock offering to investors. For the first time in the 42-year history of CubCrafters, investors at all levels can purchase stock in the company through its Regulation A+ offering. Investments are being handled by Manhattan Street Capital. More information on the investment process can be found at https://ibn.fm/RdhfN. Note:  The 2023 CubCrafters calendar is ready to ship and is free to customers, fans, and general aviation enthusiasts. To order the 2023 CubCrafters calendar, visit https://ibn.fm/MeR10. For more information, visit the company’s website at www.CubCrafters.com. NOTE TO INVESTORS: The latest news and updates relating to CubCrafters Inc. are available in the company’s newsroom at https://ibn.fm/CUB

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