Atlantic Aviation parent company Macquarie Infrastructure announced late last week that it acquired Galaxy Aviation, a Florida-based FBO chain with six facilities, for $195 million. The agreement is expected to close in the first quarter of next year, subject to government approvals.
Before the deal, Atlantic did not have any FBOs in Florida, one of the busiest general aviation markets in the U.S. This will change with the addition of Galaxy’s bases at Orlando International Airport; Northeast Florida Regional Airport in St. Augustine; Witham Field Airport in Stuart; and Palm Beach International Airport in West Palm Beach. It has also picked up the Galaxy Aviation FBO in Colorado ski country, at Yampa Valley Regional Airport in Hayden. Not included in the transaction was Boca Aviation, which was affiliated with and advertised under the Galaxy Aviation brand.
“The acquisition of the Galaxy Aviation FBOs adds high-quality facilities in the strategically important Florida market,” said Macquarie Infrastructure CEO James Hooke. “In addition to attractive, up-to-date facilities, the approximately 25-year average remaining lease life of the acquired FBOs will increase the combined remaining lease life at Atlantic Aviation to more than 20 years.”