Ronson Aviation asset sale

 - July 1, 2009, 5:35 AM

Hawthorne TTN Holdings has agreed to purchase assets of Ronson Aviation at Trenton-Mercer Airport in Trenton, N.J. The agreed price for the assets is $9.5 million, which includes $500,000 held in escrow for 15 months to secure indemnification obligations. The Ronson Aviation assets include FBO facilities, hangars and maintenance and avionics shops. The sale is subject to Hawthorne TTN Holdings’ obtaining financing as well as Ronson shareholder approval and Mercer County agreement to transfer airport premises to the new owner.