Business & GA

BBA Aviation Makes Move to Acquire Landmark

By Juliet Van Wagenen | September 24, 2015
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BBA Aviation Signature aircraft
BBA Aviation Signature aircraft. Photo: BBA Aviation

[Avionics Today 09-24-2015] BBA Aviation has entered a $2-billion stock purchase agreement to acquire Fixed-Base Operator (FBO) Landmark Aviation from investment fund manager Carlyle Group. BBA Aviation also announced the launch of a rights issue to raise $1.1 billion in proceeds, which will be used in part to finance the acquisition.

Landmark has 68 locations in the United States, Canada, France, and the United Kingdom and is one of the leading charter operators in the United States, currently with more than 110 aircraft under its charter and management.

The board of directors of the BBA believes that the acquisition represents a good opportunity for Signature Flight Support to improve operations across the fragmented FBO market. The acquisition also deepens the BBA’s exposure to the business and general aviation market. The deal is still pending and is subject to regulatory approval.

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