New company Modern Aviation – which is forming a national network of premium FBO properties – has made its first acquisition with Air Wilmington at Wilmington International Airport, North Carolina.
Air Wilmington is the only FBO at the airport and provides fuelling, hangar storage and MRO services to general aviation, military and commercial airlines.
Mark Carmen, Modern Aviation’s CEO and co-founder, commented, “Bill Cherry and his team have built a first-class operation in Wilmington over the last 40 years. We look forward to continuing Air Wilmington’s legacy of exceptional customer service, quality and safety, strong relationship with the airport and active involvement in the community.”
Modern Aviation has secured the backing of the growth-oriented infrastructure private equity fund Tiger Infrastructure Partners. Its strategy is to acquire or build FBO operations at growing locations and to focus on premium service and operations. The company is currently pursuing FBO acquisitions and development opportunities in North America and the Caribbean.
Emil W Henry Jr., managing partner at Tiger Infrastructure Partners, added, “We are very excited to back Mark and his team at Modern Aviation with our capital and work with them as they seek to build a major new FBO platform company.”