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FBOs

BBA Aviation to acquire Landmark Aviation for US$2bn

Helen NormanBy Helen Norman23rd September 20153 Mins Read
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BBA Aviation plc, the owner of Signature Flight Support, has announced that it has agreed terms for the proposed US$2.065bn acquisition of Landmark Aviation from affiliates of The Carlyle Group.

Landmark operates a global network of 68 FBOs across the USA, as well as aircraft maintenance, aircraft management and charter businesses. The acquisition, which is subject to regulatory and shareholder approvals and expected to close in early 2016, represents a major expansion of Signature Flight Support’s network of 133 global FBO locations.

Landmark’s aircraft maintenance locations will also supplement Signature’s existing MRO operations delivered through its Signature TECHNICAir and CSE Citation Centre brands. Landmark’s aircraft management and charter fleet numbers 110+ aircraft.

Simon Pryce, chief executive of BBA Aviation, said, “This is a transformational step in the continued execution of BBA Aviation’s strategy that is both strategically and financially compelling. It represents a unique opportunity to materially expand our global Signature FBO business and deepen our exposure to the attractive business and general aviation (B&GA) market with its structural growth drivers.

“The acquisition would enable customers to benefit from an extension of Signature’s industry-leading service offering and its operational excellence across a much larger network of high-quality locations. Combining Signature and Landmark Aviation would also realize significant cost synergies as well substantial tax benefits.

“More broadly, the acquisition increases BBA Aviation’s focus on the provision of value-added services to B&GA users and enhances the group’s prospects for cash generation and value creation through effective integration, continued strategy execution and active portfolio management.”

Maria Sastre, president and chief operating officer of Signature, added, “We are delighted that BBA Aviation has agreed to this proposed acquisition of Landmark. This is a strategic fit for the Signature network. It will significantly expand our reach within North America as well as globally. It will also enhance Signature’s customer value proposition and materially increase the relevance of our network for our customers. Once completed, Signature will be able to offer its world-class customer experience and loyalty programs across a much broader network of leading B&GA locations. We believe this transaction to be one of the most significant acquisitions in the business and general aviation industry. We look forward to welcoming the Landmark team to the Signature family once the transaction is approved and closed.”

Dan Bucaro, president and chief executive officer of Landmark, said, “We are very appreciative of the strong relationships we have developed over the years with airport sponsors, customers and vendors. We are confident that the success we have achieved at Landmark will carry forward under BBA Aviation’s ownership. We especially would like to thank our team at The Carlyle Group for its exceptional support.”

September 23, 2015

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Helen Norman

Helen has worked for UKi Media & Events for nearly a decade. She joined the company as assistant editor on Passenger Terminal World and since progressed to become editor of five publications, covering everything from aviation, logistics and e-commerce to meteorology. She has a love for travel and property and has redeveloped three houses in three years. When she’s not editing magazines, she’s running around after her two boys and their partner in crime, Pete the pug.

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