Following the sale of Landmark Aviation to Dubai Aerospace Enterprise on August 1, the company’s entire Aviation Airport Services Division is officially for sale.
Dubai Aerospace Enterprise (DAE), the Middle East-based start-up that is seeking to command a global presence in a number of aviation sectors, finalized the buyout of Landmark Aviation and Standard Aero Holdings from The Carlyle Group this week. DAE paid $1.9 billion for the two MRO companies. According to DAE, Landmark and Standard Aero will serve as the core of its plan to become a global MRO provider.
The Carlyle Group, a Washington, D.C.-based global private equity firm with extensive aerospace and defense holdings, has “signed a definitive agreement to acquire Garrett Aviation Services from General Electric Company.” According to industry sources, the agreement calls for a cash acquisition valued at about $160 million.
Finding a rental car at an FBO will be much easier soon as Enterprise Rent-A-Car signed an agreement to serve customers at Landmark Aviation’s 34 North American FBOs. The cars will be available either on-site or from local Enterprise locations, and Landmark customers will receive a discount on the Enterprise rentals.
European business jet operator FlyingGroup has teamed up with fixed-based
operator Million Air at Le Bourget’s new business aviation terminal.
In Dubai, the temperature never gets anywhere close to freezing but that hasn’t stopped the Arabian Gulf state from building an artificial ski slope. As the emirate has sought to re-invent itself as a center for tourism and commerce to ensure its economic future as oil revenues dwindle, projects like this have earned it a reputation for money-no-object spending. So why shouldn’t it add an aerospace industry to its wish list?
State-owned Dubai Aerospace Enterprise (DAE) agreed last month to purchase Carlyle Group’s Landmark Aviation and Standard Aero Holdings for $1.8 billion. If the deal makes it through the lengthy approval process as proposed, it will be DAE’s first venture into the U.S. market.
Over the next couple of months Garrett/Piedmont Hawthorne/Associated will be closing its engine repair facilities in Long Island, N.Y., Columbus, Ohio, and Springfield, Ill., consolidating these services at its facilities in Augusta, Ga., Houston and Los Angeles. In addition, the company’s Springfield operation will become a “center of excellence” for airframe and avionics work, interior refurbishing and aircraft painting.
SEC documents filed yesterday reveal that Dubai Aerospace Enterprise (DAE) will pay $1.8 billion–$300 million more than originally estimated–for the Carlyle Group’s Landmark Aviation of Phoenix and Standard Aero of Winnipeg, Canada. More than half of the total, $1.034 billion, is for Standard Aero. The filing confirms DAE’s commitment to selling off the Landmark network of FBOs soon after the deal is completed.
Piedmont Hawthorne has installed wireless Internet access at all of its FBOs. Bill Thrift, senior v-p of FBOs for Piedmont Hawthorne, said, “In today’s information-driven society, going wireless was the one comprehensive solution available to general aviation and Piedmont Hawthorne.”