M&A Deal Summary

Modern Aviation Acquires Elliott Aviation - FBO assets and operations

On September 22, 2022, Modern Aviation acquired business services company Elliott Aviation - FBO assets and operations from Elliott Aviation

Acquisition Highlights
  • This is Modern Aviation’s 1st transaction in the Business Services sector.
  • This is Modern Aviation’s 4th transaction in the United States.
  • This is Modern Aviation’s 1st transaction in Iowa.

M&A Deal Summary
Date 2022-09-22
Target Elliott Aviation - FBO assets and operations
Sector Business Services
Buyer(s) Modern Aviation
Sellers(s) Elliott Aviation
Deal Type Divestiture

Target

Elliott Aviation - FBO assets and operations

Des Moines, Iowa, United States
Elliott Aviation - FBO assets and operations operates on a 17-acre leasehold and offers state-of-the-art facilities and amenities such as conference rooms and workstations, sleep rooms, crew cars, and comfortable lounge areas with approximately 145,000 square feet of heated hangar space and 20,000 square feet of office space. Elliott Aviation's FBO assets and operations are based in Des Moines, Iowa.

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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 5 of 7
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 1
State (Iowa) 1 of 1
Country (United States) 4 of 6
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-27 Hill Aviation

Puerto Rico

Hill Aviation operates the sole FBO at Isla Grande Airport where it offers more than 91,000 square feet of hangar space and office space and has a long history of providing excellent customer service.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 Mystic Jet Center

Groton, Connecticut, United States

Mystic Jet Center is a full-service, family-friendly air transportation service provider, committed to safety and excellent personalized service. Mystic Jet Center is based in Groton, Connecticut.

Buy -

Seller(S) 1

SELLER

Elliott Aviation

Moline, Illinois, United States
Category Company
Founded 1936
Sector Aerospace
DESCRIPTION

Elliott Aviation is a provider of maintenance, repair and overhaul (“MRO”), fixed based operations services, and aircraft sales and brokerage services to the business aviation industry. Elliott Aviation is based in Moline, Illinois.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 2 of 2
State (Iowa) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-03 Four Points Aero Services

Dallas, Texas, United States

Four Points Aero Services is a full-service aircraft repair facility based in Dallas, Texas that provides full maintenance, repair, and overhaul services (MRO) and other MRO support services for a broad variety of corporate and general aviation aircraft. Four Points Aero Services is based in Dallas, Texas.

Buy -
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