Infrastructure Investment Firm Buys APP Jet Centers

 - January 11, 2022, 10:37 AM
The APP Jet Center brand including its newest FBO at California's Hayward Executive Airport, bases in Florida, and Virginia, and hangars at Denver-area Centennial Airport has been purchased by middle-market investment firm Ridgewood Infrastructure. (Photo: APP Jet Center)

APP Jet Center, a small aviation services chain consisting of a trio of FBOs scattered across the U.S., has been acquired by middle-market investment firm Ridgewood Infrastructure. The formerly privately-held APP Jet Center provides ground services at Treasure Coast International Airport in Fort Pierce, Florida; San Francisco-area Hayward Executive Airport; and Manassas Regional Airport in Northern Virginia. The company also owns and operates 65,000 sq ft of aircraft hangars at Denver Centennial Airport.

“We founded APP in 2009 and were recently seeking a value-added partner to help us achieve our potential,” explained CEO Dan Harrow. “Ridgewood has deep transportation infrastructure experience and a track record of success working with companies like ours.” Ridgewood Infrastructure is part of the affiliated Ridgewood Companies, a real asset investment manager founded in 1982 with approximately $6 billion of total capital and commitments.

“Ridgewood’s investment in APP exemplifies our ability to create differentiated exposure to essential infrastructure in the U.S. lower middle market, drive value, and deliver beneficial outcomes," said Ridgewood Infrastructure managing partner Ross Posner.