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.
Even before last month’s terrorist attacks, FBOs faced formidable business challenges. Those challenges may have changed significantly in the past few weeks, but they have not disappeared.
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.
DAE Engineering and Manufacturing is in the maintenance business for the long haul, CEO Rob Mionis told AIN. “We realize a lot has transpired in the past eight months and we’d like to clarify DAE’s position. Our strategy is to find high-quality assets so we can grow through acquisitions and as a result of internal growth.”
It seems that not a week goes by without an FBO company announcing either the acquisition of more FBOs or a one-FBO company buying half a dozen more FBOs to establish its own growing chain. Witness, for example, Volo Aviation’s rapid accumulation of five bases, when just last year the company had one FBO to supplement its primary charter business.
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.
Forty years ago, the first Avitat FBO in Brussels, Belgium, launched a network that now consists of more than 60 FBOs around the world, including four recently added locations. These include two Encore FBO facilities (soon to become Landmark Aviation) in Dublin, Ireland, and Nice, France, as well as Gozen Air Services in Istanbul, Turkey, and Sky Services in Naples, Italy.
FBO chain Encore acquired Million Air Cleveland at Burke Lakefront Airport early last month. This brings the Encore FBO chain to five facilities in the U.S. and three in Europe. Like some of Encore’s other recent acquisitions, the Cleveland FBO also offers engine and airframe maintenance in addition to typical FBO services such as fuel sales and hangar rental.
Worthington Aviation has named Landmark Aviation a Westwind authorized facility for product support.
Encore FBO and private-equity firm GTCR Golder Rauner on November 22 entered a joint definitive agreement to acquire Landmark Aviation’s FBOs from Dubai Aerospace Enterprise Aviation Holdings. The $436 million transaction is “subject to adjustment as provided in the purchase agreement,” according to a disclosure filed publicly by Dubai Aerospace Enterprise Aviation Holdings on December 13.