TWG Aviation To Acquire Vitesse Maintenance Assets
TWG Aviation, parent company of Dallas-based Business Jet Access (BJA) and Business Jet Center (BJC), is to buy Vitesse Aviation Services. The companies are currently completing their due diligence, and the deal is scheduled to close in September.
Under the terms of the agreement TWG will acquire the leasehold improvements of the current Vitesse Aviation Services, which includes two hangars situated on 7.5 acres. Vitesse has operated an FBO as well as an aircraft maintenance and charter business at the location for the past four years.
TWG plans to absorb the Vitesse aircraft maintenance, aircraft charter and management, and FBO fueling business into its current operations. Vitesse will retain its FAR Part 145 certificate and move the landing gear, component and machining business to a facility near Love Field, where it will continue to provide private and commercial carrier repairs. The company will shift its emphasis to component repair.
“As recently as two years ago we began looking to expand our own leasehold on the airport. Unfortunately the economy took a nosedive and the plans went on hold, but the plan to expand remained,” Brian Hoffman, Business Jet Access manager, told AIN. “This acquisition will allow us to expand our capacity without having to build.”
According to Hoffman, the current Vitesse Dallas Love Field hangar and maintenance assets will provide additional maintenance capacity for BJA. The fuel and line service functions will be absorbed by BJC into its current FBO on the airport. The company also operates an FBO in Oakland, Calif.
“The acquisition will give us maintenance capability that we don’t currently possess and increased capacity. Vitesse’s already established Part 145 repair station has ratings we don’t possess, so it’s a quick way to expand our maintenance offering. We’ll acquire infrastructure, tooling and trained employees but we’re not taking over [the company’s] Part 145 repair station certificate. We’ll have to apply to the FAA to add the new ratings to our certificate,” Hoffman said.
“The sale to TWG will facilitate the growth of our repair, overhaul and component [ROC] business; it will be an enhancement of our parent company core businesses,” said David Peaper, v-p and general manager of Vitesse Aviation Services, Dallas. “A condition of the sale will be the relocation of our ROC business to a larger, expanded facility near our present Love Field location, where we will continue to serve the needs of our private and commercial aviation clients. We believe the transaction will be positive for Vitesse and TWG and we are pleased to have been able to reach this accord.”