FBOs integrated under Atlantic name
Atlantic Aviation and its owner, Macquarie Infrastructure, plan to rebrand a number of the recently acquired FBOs under the Atlantic Aviation brand. This includes 24 Mercury Air Centers/ Corporate Wings facilities purchased from Allied Capital and the two San Jose Jet Center FBOs at Mineta San Jose International Airport in San Jose, Calif.
Macquarie also purchased two additional FBOs earlier this year, the former Supermarine facilities at Santa Monica Airport in Southern California and Stewart International Airport in New York.
The new additions bring Atlantic Aviation’s FBO network to 69 facilities, according to Macquarie, making it the largest in the U.S.
Macquarie said it paid $163.4 million for the two San Jose Jet Center FBOs, “including integration expenses and transaction-related costs.” The price topped the $85 million that Macquarie paid for both FBOs at Santa Monica and Stewart and was about four times as much per FBO as the company paid for each Mercury location.
Integration of all the Macquarie FBOs under the Atlantic Aviation brand should take 12 to 18 months.
Atlantic CEO Louis Pepper said, “Being bigger is not necessarily being better. Atlantic will always focus on our value-added proposition no matter how many FBOs we have.”
Pepper added that Atlantic continues to seek new FBO acquisition opportunities. “There remain a number of general aviation destinations that would fit nicely with our strategy of serving the needs of our customers,” he said.