Modern Aviation, a fixed-base operator (FBO) platform backed by Tiger Infrastructure Partners, has agreed to purchase three Superior Aviation Company (SACjet) FBO operations in Sacramento, California, US.
As part of the definitive agreement, Modern Aviation will acquire the FBO operations from Sacramento International Jet Center, which is operating as Capitol Jet Center and located at Sacramento International Airport.
The transaction also includes Mather Jet Center, which is operating as Mather Jet Center at Mather Airport, along with Patterson Aviation Company, operating as Executive Jet Center, at Sacramento Executive Airport.
Modern Aviation CEO Mark Carmen said: “We founded Modern Aviation to develop a national network of FBOs. The opportunity to acquire SACjet’s three Sacramento FBOs and build upon their well-deserved reputation for client service is another important milestone in executing our strategy.
“SACjet has a world-class staff of professionals at these airports, where customers receive world-class service every day. Modern intends to hire all of SACjet’s current operational employees.
“One of the benefits of our consolidation strategy is that it creates more career growth opportunities for our team members and more touchpoints for our customers.”
The deal is subject to review and approval from relevant government agencies. It is anticipated to complete in the second quarter or early third quarter of the year.
Upon closing of the transaction, Modern Aviation will have 12 FBO locations. The financial details of the deal were not divulged.
SACjet founder and CEO Scott Powell said: “Modern Aviation is well-positioned to build on our success and further develop the leaseholds to reach their full potential. I’m confident that Modern will provide a great home for the team and our loyal customer base.”