Signature Flight Support agrees $69 million acquisition of Maguire Aviation at Van Nuys
Signature Flight Support will acquire the assets of the Maguire Aviation Group at Van Nuys, California.
Signature Flight Support, owned by BBA Aviation, has agreed to acquire the assets of Maguire Aviation, worth $69 million, on a cash and debt free basis.
The acquisition is subject to customary approvals and is expected to complete by the end of 2013. The acquisition strengthens Signature Flight Support’s position at Van Nuys Airport extending its footprint threefold with extra hangar space, ramp, passenger lounges and office space. Following the acquisition, Signature will also own and operate the NetJets facility at the airport.
The newly acquired assets will be branded Signature Flight Support and will operate as part of the Signature Flight Support global network.
Simon Pryce, BBA Aviation Group chief executive, said: “The acquisition of Maguire Aviation is a continuation of Signature’s value disciplined growth strategy. It significantly extends Signature’s position on one of the largest business and general aviation airports in the world and a key gateway location in the US. In addition, it allows Signature to extend its industry leading FBO services to Maguire’s existing customers and to introduce them to the benefits of the Signature global network.”