Phoenix Acquires Superior Avionics

Phoenix Associates Land Syndicate will acquire Fort Lauderdale, Fla.-based Superior Avionics for $1.5 million in an all-cash transaction. Madisonville, La.-based Phoenix Associates is a public holding company, focused principally on the acquisition and development of companies in the aviation, construction, mining and oil and gas industries. Superior Avionics is a FAA-certified repair station specializing in the sales, service and installation of avionics equipment in corporate jets. The company maintains dealerships for avionics manufacturers' including Honeywell, Rockwell Collins, Universal Avionics, L-3 Communications and Garmin. The company was projecting $2 million in revenue for 2007. Paul Alonzo, president and CEO of Phoenix said the Superior acquisition is the company’s second acquisition of an aircraft-related business in the Fort Lauderdale area, following the February 2007 acquisition of Nobel Jet, a jet aircraft maintenance facility located at the Fort Lauderdale Airport. In 2006, Phoenix acquired the Best Jets Group of Companies, a group that includes Best AeroNet, Best Jet Parts, Best AeroNet Aviation, Peaks Aviation Services and Artist Air. "Superior will provide avionic services for all current and future aircraft owned by the Best Jets Group of Companies. We believe that having our own avionics shop will greatly enhance the pricing and profitability," Alonzo said.