Private equity firm New State Capital Partners has named leadership for its newly created holding company—New State Aviation Holdings—and anchor investment Avex, an authorized distributor and recommended service center of Daher TBM turboprops in the Southwest U.S.

Chad Cundiff will assume the role of CEO with Claude Draillard serving as chief financial officer of Avex and New State Aviation Holdings. Cundiff, an ATP-rated pilot, has 25 years of experience as an aerospace executive and manager including at Boeing and Honeywell Aerospace. He most recently was president of Astronautics Corp. of America. Draillard’s previous experience includes more than 22 years at Dassault Aviation, rising to CFO of Dassault Falcon Jet, and v-p of finance for Honda Aircraft.

“Establishing the senior executive team is the first step in growing our aviation-focused platform,” said New State Capital senior partner Daniel Han. “We are pleased to welcome Chad and Claude to their new leadership roles and believe their aviation and management experience will prove invaluable as New State Aviation Holdings seeks to expand both organically and through acquisitions.”