Swiss-based Jet Aviation Group announced today that it reached an agreement to acquire St. Louis business jet maintenance and modification company Midcoast Aviation from Sabreliner. The deal is subject to the customary approvals and is expected to be closed in the spring. Sabreliner purchased Midcoast in 1994. When Jet Aviation was acquired by Permira Funds last October, the new owners committed to expanding the company. “The acquisition of Midcoast Aviation is a significant step in this direction,” said Jet Aviation Group CEO Heinz Köhli. Jet Aviation said Midcoast will retain its name, though with the addition of “a Jet Aviation Company,” and will continue to operate under the leadership of Kurt Sutterer, who will report to Theo Staub, president and COO of Jet Aviation North America.
Jet Aviation To Acquire Midcoast Aviation
- January 10, 2007, 6:01 AM