Ravn Air Group Inc. bought the assets of fellow Anchorage, Alaska-based Peninsula Airways Inc.

Terms of the deal were not made public.

Ravn and its owner, J.F. Lehman & Co. LLC, were the prevailing bidders in a Section 363 bankruptcy auction for Peninsula's assets.

Ravn, a portfolio company of the middle-market investor, provides regional air transportation and logistics services in Alaska. Peninsula Airways is a regional part 121 airline operating passenger, freight and charter flights to seven destinations in Southwest Alaska and the Aleutian and Pribilof Islands.

J.F. Lehman focuses primarily on aerospace, defense, maritime, government and environmental businesses.

BlankRome and Keller & Benvenutti provided legal counsel to Ravn and J.F. Lehman.