M&A Deal Summary

Modern Aviation Acquires Hill Aviation

On October 27, 2021, Modern Aviation acquired aerospace company Hill Aviation

Acquisition Highlights
  • This is Modern Aviation’s 4th transaction in the Aerospace sector.
  • This is Modern Aviation’s 1st transaction in Puerto Rico.

M&A Deal Summary

Date 2021-10-27
Target Hill Aviation
Sector Aerospace
Buyer(s) Modern Aviation
Deal Type Add-on Acquisition

Target

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.

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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 4 of 7
Sector (Aerospace) 4 of 5
Type (Add-on Acquisition) 4 of 6
Country (Puerto Rico) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-26 Gateway USA

Seattle, Washington, United States

Gateway USA LLC which operates one of the two main FBOs at Boeing Field ("KBFI") in Seattle, Washington. The FBO offers more than 65,000 square feet of hangar space, 18,000 square feet of terminal and office space, and aircraft maintenance, repair, and overhaul services via its Part 145 Repair Station. Gateway is also the exclusive authorized dealer and service center for Quest Kodiak in the Pacific Northwest.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-22 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.

Buy -