M&A Deal Summary

Modern Aviation Acquires Air Wilmington

On February 22, 2018, Modern Aviation acquired aerospace company Air Wilmington

Acquisition Highlights
  • This is Modern Aviation’s 1st transaction in the Aerospace sector.
  • This is Modern Aviation’s 1st transaction in the United States.
  • This is Modern Aviation’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2018-02-22
Target Air Wilmington
Sector Aerospace
Buyer(s) Modern Aviation
Deal Type Add-on Acquisition

Target

Air Wilmington

Wilmington, North Carolina, United States
Air Wilmington owns the sole fixed base operator at the Wilmington International Airport under a long-term concession. The FBO provides fueling, MRO and hangar services to general aviation, military and commercial customers. Air Wilmington’s facilities include an 8,400 square foot FBO terminal and over 100,000 square feet of hangar space.

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Buyer(S) 1

Buyer

Modern Aviation

New York, New York, United States
Category Company
Founded 2017
Sector Aerospace
DESCRIPTION

Modern Aviation is a platform company created to acquire and consolidate fixed-based operators (“FBOs”). Its FBOs hold long-term concessions at the airports where they operate and provide hangar space, fuel, and other aviation services. Modern Aviation was founded in 2017 and is based in New York City.

DEAL STATS #
Overall 1 of 7
Sector (Aerospace) 1 of 5
Type (Add-on Acquisition) 1 of 6
State (North Carolina) 1 of 1
Country (United States) 1 of 6
Year (2018) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 XJet World Holdings

Englewood, Colorado, United States

XJet World Holdings Ltd. is a private aviation company providing luxury service to aircraft owners and users. Headquartered in the United Arab Emirates, XJet provides its brand of award-winning service from its European hub at London’s Stansted Airport which includes more than 90,000 square feet of dedicated hangar space, that can accommodate two 747 aircraft simultaneously, as well as a 17,000 square foot Club House.

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