Wheels Up implements divestiture of non-core services businesses for $20M

Wheels Up (UP) has sold three non-core services businesses – Baines Simmons, Kenyon International Emergency Services and Redline Assured Security – to an unrelated third party for approximately $20M in proceeds before transaction-related expenses. Wheels Up expects to reinvest the net proceeds from the sale to further its ongoing fleet modernization strategy and for general corporate purposes.