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.”
Dubai investment firm Dubai Aerospace Enterprise (DAE) at press time was in “active discussions” with Washington, D.C.-based private-equity firm Carlyle Group to acquire its Standard Aero company and Landmark Aviation, particularly its maintenance, repair and overhaul (MRO) businesses. According to sources familiar with the process, DAE is expected to pay more than $1.5 billion for the two firms.
Executive Jet Management (EJM) announced changes to its management team with three personnel movements. Kaj Wren was hired for the new position of director of charter vendor standards. He was formerly chief pilot for three aviation companies. Ben Murray was promoted to national v-p of charter sales and John Nelson was promoted to v-p of business systems. Murray was previously EJM’s regional v-p of charter services.
The former v-p of general aviation sales and business development for Air BP, David Brinson, has formed Avian Solutions in Marshall, Va. His new company offers consulting services in the design, construction and management of FBOs, hangars, airports, fuel farms and other segments of the aircraft service industry. Before Joining Air BP, Brinson was general manager for Piedmont Hawthorne at Washington Dulles Airport.
As reported yesterday in AINalerts, Dubai Aerospace Enterprise (DAE) is in “active discussions” with Washington, D.C.-based Carlyle Group to acquire its Landmark Aviation and Standard Aero companies. According to people familiar with the process, DAE is expected to pay more than $1.5 billion for the two firms.
Dubai Aerospace Enterprise is in “active discussions” with Washington, D.C.-Carlyle Group to acquire Landmark Aviation, and in particular its MRO businesses. At press time a definitive agreement was pending, but no timetable was given.
With 34 FBOs in the U.S. and Canada, Landmark Aviation has grown to be one of the larger FBO chains. The company was formed through the merger of Piedmont Hawthorne, Garrett Aviation and Associated Air Center, all of which trace their roots to the 1930s and 1940s. These aviation service companies started coming together in 2001, when Piedmont Hawthorne bought Associated.