Signature hitting the acquisition trial
Signature Flight Support acquisition personnel have had a busy first half of the year. Late last month, they closed on a deal to acquire the AirKaman FBO at Jacksonville (Fla.) International Airport (JAX) for an undisclosed sum. The facility, which becomes Signature’s 44th, services corporate aircraft and has contracts for airline refueling and servicing. Assets include eight hangars with more than 180,000 sq ft of storage area and 60,000 sq ft of office space. All 65 employees have been asked to stay on. Signature plans to build a new $3.5 million 8,000-sq-ft terminal that is scheduled for completion in time for the 2004 Super Bowl in Jacksonville, home of the Jaguars of the National Football League.
The news about Jacksonville came shortly after announcements of two other acquisitions and a pending sale. First, Signature acquired the former Savannah (Ga.) Aviation FBO concession for $5.6 million from former owner Steve Walker who will continue to operate his flight school, maintenance shop and Part 135 charter service under the name of Savannah Aviation. Walker will now be a tenant of Signature, which had operated the other FBO on the airport. Second, Signature closed a deal to acquire the former Mercury Air Center FBO at Hanscom Field in Bedford, Mass., outside Boston for $15.5 million. As an adjunct to its deal with Mercury, Signature agreed to sell its operation in Corpus Christi, Texas, for a reported $2 million. Pending local approval, the Corpus Christi Signature will become a Mercury Air Center FBO.