The Baton Rouge Jet Center is to acquire Executive Aviation this summer to expand its FBO facilities at the Baton Rouge Metro Airport.
Following the merger, Baton Rouge Jet Center (BTR Jet) expects to make a capital investment of US$3 million in the construction of a new FBO operations facility and three new hangars. The new FBO will cover approximately 465-square-meters and the hangars are projected to include 4,180-square-meters of hangar space with high doors to accommodate larger jets than can currently be housed in Baton Rouge. BTR Jet will acquire Executive Aviation (EA) through an asset purchase.
The construction, which is planned to to be completed in a year, will allow BTR Jet to relocate its operations to the EA site while retaining some operations at its current facility.
Brett Furr, president of BTR Jet, said, “In a little over three years, BTR Jet has grown to be the number one FBO on the field. We have achieved this through concierge service at fair prices. We have rapidly outgrown our facilities and have much need for expansion. This opportunity will allow BTR Jet to continue to expand. It is also a great fit since the owners of BTR Jet and Executive share common values.
“When completed, our new facilities will be among the finest in the country and will distinguish Baton Rouge in a very positive manner. The customer base for BTR Jet and EA should anticipate a smooth transition once the merger has begun.”
John Schempf, president of the Newtron Group, the parent company of EA, added, “BTR Jet was looking to expand its footprint and The Newtron Group was looking to focus on its core construction business. This opportunity was truly a positive for both buyer and seller.
“The fact that we know the ownership team of BTR Jet and are familiar with their operational values and beliefs helped us feel comfortable that the long-term employees of Executive Aviation would be in great hands with BTR Jet. That really helped to close this deal.”