Macquarie adds more FBOs to its stable
In an 8-K filing with the U.S. Securities and Exchange Commission last month, Macquarie Infrastructure revealed that it is adding two FBOs at Norman Mineta San Jose International Airport in Northern California to its acquisition of the Mercury Air Centers FBO chain. The deal calls for Mercury to buy the San Jose Jet Center and ACM Aviation. If all goes as planned, Macquarie will add 26 FBOs to its existing Atlantic Aviation FBO chain. If the Mercury acquisition doesn’t go through by November 1, Mercury will still have to turn over the two San Jose FBOs to a Macquarie Infrastructure subsidiary. This new agreement brings the total price for the Mercury and San Jose FBO acquisition to $615 million, or an average of about $23 million per facility.