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.
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.
Newly named Landmark Aviation is still growing within the business aviation community, at least when it comes to name recognition. While the name may be new–it made its debut at November’s NBAA Convention–the company’s roots go deep.
ServiceElements has signed a three-year agreement to provide a customer service culture enhancement program for employees at Landmark Aviation’s four maintenance, repair and overhaul (MRO) operations in the U.S.
In a bid to expand its capabilities to service larger turbine engines, Standard Aero announced the purchase of TSS Aviation in Cincinnati for $65 million. Standard Aero and Landmark aviation were added to Dubai Aerospace Enterprise’s (DAE) rapidly growing portfolio of aviation businesses in August as part of a $1.9 billion buyout from the Carlyle Group.
Carlisle Group, the investment house that owns the vast majority of stock in Piedmont Hawthorne, decided on March 1 to remove the for sale sign from its FBO chain–at least for now. Piedmont Hawthorne president Dean Harton told AIN, “It wasn’t much of a secret that the chain was for sale. The official public presentation was planned for September 15. You can imagine how that went.