A Reuters report last night said that the private equity owners of Landmark Aviation have put the company up for sale. Landmark is owned by GTCR Golder Rauner and Platform Partners and includes an FBO chain (52 bases), maintenance and charter division and Encore Support Systems. Encore FBO, backed by GTCR Golder Rauner and Platform Partners, purchased the Landmark Aviation Airport Services Division from Dubai Aerospace Enterprise in March 2008 for an undisclosed amount. At the time, this added 33 FBOs to Encore’s eight to create the global Landmark network.
Camp Systems International purchased maintenance-tracking provider Avtrak last week. In early May, Camp was sold by private equity firm Warburg Pincus to another private equity company, GTCR (owner of the Landmark Aviation FBO chain), for a reported $600 to $700 million.
Camp CEO Ken Gray said that he had indicated an interest in buying Avtrak to co-founders Joe and Glenn Hertzler. He added, “The Hertzler brothers made a decision for personal reasons that it was time to exit, and we were a logical acquirer.”
Landmark Aviation and the Asheville Regional Airport Authority celebrated the grand opening of the FBO chain’s FBO terminal at Asheville Regional Airport in North Carolina on April 16. Landmark spent $4.6 million on the new facility, which features a 23,000-sq-ft hangar, pilot’s lounge, flight planning room and conference room. Landmark has 41 FBOs in the U.S., Canada and Europe and is owned by GTCR Golder Rauner and Platform Partners.
Landmark Aviation has added Jimsair Aviation Services, located at San Diego International Airport, to its network of FBOs. The acquisition brings the number of Landmark FBOs to 42, with locations in the U.S., Canada and Western Europe. In March, Encore FBO, GTCR Golder Rauner and Platform Partners acquired Landmark Aviation’s Airport Services division from Dubai Aerospace Enterprise.
Encore FBO and its financial backers, GTCR Golder Rauner and Platform Partners, finalized the purchase of Landmark Aviation’s Airport Services Division from Dubai Aerospace Enterprise on March 3. The purchase adds 33 FBOs to Encore’s eight, bringing the new chain to 41 facilities, all now branded under the Landmark Aviation name.
The completion on Monday of Encore FBO’s $436 million purchase of the Landmark Aviation FBO and charter business from Dubai Aerospace Enterprise caps a series of acquisitions that have seen FBO chains grow to new heights. Encore is rebranding its eight FBOs and its now 41-facility chain as Landmark Aviation, which also includes aircraft sales, charter, parts and maintenance businesses, as well as Encore’s military fuel-supply operation.
Encore FBO and private-equity firm GTCR Golder Rauner announced late yesterday that they entered a joint definitive agreement to acquire Landmark Aviation’s FBOs from DAE (Dubai Aerospace Enterprise) Aviation Holdings. The transaction is for $436 million, “subject to adjustment as provided in the purchase agreement,” according to a disclosure filed publicly by DAE yesterday.