Publicly traded Macquarie Group, the Australian company that owns the Atlantic Aviation chain of FBOs, is purchasing the FBOs owned by private-equity firm Allied Capital and will merge them into the Atlantic network. Macquarie, which bought Atlantic in April 2004, is performing due diligence to purchase Allied’s 22 Mercury Air Centers, Corporate Wings, FirstAir and IX Jet Center FBOs, according to Atlantic v-p Sue Sommers. The transaction could be completed in June or July, she said. There are no overlapping FBOs, thus no government-approval issues. All of the Allied FBOs will be rebranded Atlantic Aviation, but the deal doesn’t include Allied’s Fuel On Demand pre-paid ramp fee system, devised by the chain’s CEO, Kenneth Ricci. Atlantic Aviation CEO Louis Pepper will remain at the helm, with a total of 62 FBOs in the network. No price for the purchase was revealed, but it will become public when the agreement is finalized, Sommers said. Mercury Air Group sold the Mercury Air Centers FBOs to Allied Capital in 2004.
Mercury FBOs To Be Added to Atlantic Aviation
- March 22, 2007, 11:41 AM