Macquarie Infrastructure completes acquisition of two fixed base operations


Macquarie Infrastructure Company (NYSE: MIC) on Monday (4 June) said that it has completed its previously announced purchase of fixed base operations (FBO) at Santa Monica Municipal Airport in Santa Monica, California and Stewart International Airport in New Windsor, New York. At present, the facilities operate as the Supermarine FBO network. According to the company, it is investing an aggregate USD90.2m, including costs, in the Supermarine sites. Both will be rebranded and integrated into Macquarie Infrastructure company's existing Atlantic Aviation operations. MIC will report the financial results of the new facilities as a component of its airport services business segment. MIC funded the acquisition with USD32.5m drawn against an existing credit facility at Atlantic and USD57.7m of cash. FBOs provide fuel and fuel-related services, terminal services and aircraft hangarage to the general aviation community. The facility at Santa Monica is the sole FBO at that airport and the facility at Stewart is one of two FBOs. MIC owns, operates and invests in a diversified group of infrastructure businesses in the United States.

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