Hangar Developer Sky Harbour To Go Public

 - August 2, 2021, 12:05 PM
Sky Harbour recently opened its first private hangar complex at Houston-area Sugar Land Regional Airport. The company offers fully-furnished hangars with offices and parking. Each location has its own dedicated line staff. (Photo: Sky Harbour Group).

Private aircraft hangar developer Sky Harbour Group (SHG) will become a publicly-traded company after it enters into a business combination agreement with Yellowstone Acquisition Company. Sky Harbour, which aims to address the shortage of private aviation hangars in many areas across the country, seeks to establish a network of turnkey upscale business aviation hangar complexes.

In fact, Sky Harbour recently opened its first location at Houston-area Sugar Land Regional Airport and has additional facilities under construction at Nashville International Airport and at Florida’s Miami Opa-Locka Executive Airport. Other projects are planned for Denver Centennial Airport and Phoenix Deer Valley Airport.

Public holding company Boston Omaha has agreed to provide $55 million in financing for the transaction, which is expected to close by year-end. At that time, the combined company will have an estimated post-transaction equity value of $777 million. Through the deal, SHG will receive at least $150 million investment in cash and securities.

“Sky Harbour is pleased to be entering into this partnership with Yellowstone and the Boston Omaha team to capitalize on the strategic progress the company has made in the past 12 months,” said SHG chairman and CEO Tal Keinan, who will continue to lead the business post-transaction.