Wafra, a global alternative investment manager, and NOVA Infrastructure, an infrastructure investment firm, have announced an investment in Hawthorne Global Aviation Services.
Hawthorne is a leading U.S. fixed-base operator (FBO) with six locations, including four sole-source locations and three within Top 10 Metropolitan Areas.
Funds managed by Wafra and NOVA acquired Hawthorne from Moelis Capital Partners, which had owned Hawthorne since 2011.
With locations in New York, Chicago, and Atlanta, as well as smaller markets, Hawthorne is positioned to capitalize on tailwinds in corporate and general aviation traffic across North America.
Hawthorne’s locations collectively offer a range of essential services, including fueling, hangaring and other ancillary services.
“We believe Hawthorne’s existing locations form a leading, multi-region FBO network, and with NOVA and Wafra’s support, we look forward to expanding our footprint to serve a greater portion of the aviation industry,” said Chuck Kegley, CEO of Hawthorne.
Chris Beall, managing partner and founder of NOVA said, “We are excited to partner with the Hawthorne and Wafra teams to build a first-class aviation platform. We think the management team and assets are well-suited for this purpose and are excited to support this growing middle market company.”
“Hawthorne has a history of strong operational performance and this investment represents an opportunity for organic and strategic growth in the fragmented market of FBOs. Together with NOVA, we look forward to seeing Hawthorne expand its reach, realizing its potential as a leading platform of FBO assets,” said Adel Alderbas, chief investment officer of Wafra.
NOVA and Wafra were advised by Solomon Partners, Jackson Walker LLP, and Cleary Gottlieb Steen & Hamilton LLP.