Bain Capital has closed its acquisition of fixed-base operations (FBO) and airport real estate company APP Jets Center. The company serves corporate and private air clients in US markets.
"APP Jet Center represents a unique opportunity to invest in a differentiated FBO platform with attractive assets in multiple markets,” said Chris Leddy, a managing director at Bain Capital Real Estate.
“This transaction marks an exciting new chapter for APP Jet Center and we look forward to an impactful partnership with Bain Capital and leveraging their experience supporting the growth of leading aviation businesses,” said APP Jet Center's incoming CEO Mark Johnstone.
To support its “next chapter of growth”, the newly acquired company has appointed Tim Johnson SVP, corporate development and Tom Vliek as SVP, capital programmes and procurement. APP Jets Center has also appointed a new CFO and will be announced in the coming weeks.
“With a strong team in place and Bain Capital’s support, we are well-positioned to execute on our expansion strategy, elevate the FBO experience even further, and build on the company’s people- and safety focused culture,” said Johnson.
APP Jet Center recently opened its remodeled FBO facility at Treasure Coast International Airport (FPR). The company plans to launch a new community hangar this summer at Hayward Executive Airport.
DLA Piper, led by Drew Rosenberry and Neil Vohra, served as legal advisor to Bain Capital.