American Aero LLC at Fort Worth Meacham International Airport will be acquired by New York-based Modern Aviation from an affiliate of the private equity firm Keystone Group LP.
“We’re excited to have American Aero join the Modern Aviation family and expand our presence to the high growth DFW area. American Aero has distinguished itself among FBOs by being the first in the world to earn a Stage 3 International Standard for Business Aircraft Handling safety and ground handling certificate,” Modern Aviation CEO Mark Carmen said in a statement. “Safety is a critically important part of the Modern Aviation culture and all of our other locations have now achieved either a Stage 1 or 2 certificate.”
Terms of the acquisition were not disclosed.
American Aero operates on a 31-acre fixed base operator campus with 247,000 square feet of hangar and office space, and the largest open ramp on the field of more than 11 acres.
Its 8,600-square-foot FBO was designed to maximize safety, efficiency, and comfort for flight crews and passengers, the company said. For the last six years, American Aero said it has been ranked in the annual Aviation International News FBO survey as one of the best FBOs in the world and the best FBO in Texas and the South-Central Region.
“We’re proud to have built a world-class FBO in Fort Worth, Texas, over the last 12 years,” a Keystone Group representative said in a statement. “We believe Modern Aviation is the perfect owner to continue the success and growth of American Aero. This is a great day for American Aero and Meacham International Airport.”
“Adding American Aero to the Modern Aviation platform will enable us to continue expanding our network, benefitting our customers and employees,” Carmen said. “All of the employees of American Aero will remain with Modern Aviation post-acquisition. We look forward to welcoming our new colleagues and customers to the Modern Aviation family.”
Modern Aviation said the addition of American Aero will represent its first FBO in Texas and brings the company’s FBO network to 17 locations in the United States and Puerto Rico.
Modern Aviation expects the transaction to close in the current calendar quarter.
Modern Aviation said its strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality, and industry leading safety.
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