Encore FBO and private-equity firm GTCR Golder Rauner have entered into a joint agreement to acquire Landmark Aviation's fixed-base operations from Dubai Aerospace Enterprise (DAE) Aviation Holdings.
The transaction is for $436 million, "subject to adjustment as provided in the purchase agreement", according to a disclosure filed publicly by DAE late last month.
The acquisition, which is scheduled for completion by the end of March, includes all of Landmark's 34 FBOs and its related charter, aircraft sales and maintenance parts assets, but not its maintenance repair and overhaul division or Dallas Love Field-based completion company Associated Air Center.
Encore currently owns eight FBOs and two charter companies in the USA and Europe which will be merged under the Landmark brand. DAE acquired the assets of Landmark Aviation and Standard Aero from The Carlyle Group in August for $1.9 billion.e_SClB
Source: FlightGlobal.com
