Apr. 28 -- Executive Beechcraft Inc., which has been serving the general aviation market for nearly 60 years, has agreed to sell to a London-based company.
BBA Aviation, which has operations around the world, said the deal was expected to close by June 30. Terms of the definitive agreement were not released.
Executive Beechcraft is based at Wheeler Downtown Airport and also has operations at Kansas City International Airport, New Century Air Center near Gardner, and Spirit of St. Louis Airport in Chesterfield, Mo. The company was founded in 1938 by the Meisinger family.
According to a release by BBA, Executive Beechcraft in 2006 had sales of $63 million and assets at year's end of $33 million.
Executive Beechcraft referred questions to BBA Aviation. An executive there said he did not expect any changes in the Executive Beechcraft staff.
"We're very excited about the way Executive Beechcraft does business, and we're eager to become part of the community," said Gary Boekenkamp, vice president of marketing for BBA Aviation Flight Support.
Boekenkamp said that it was uncertain whether the Meisinger family would remain with the company and that more details on management issues would be released after the deal closes.
Dan L. Meisinger, president of Executive Beechcraft, posted a letter to employees, customers and business partners on the company's Web site:
"We are confident that selecting BBA Aviation as our new owner will assure the best continuity of service to our customers and business associates, and opportunities and growth for our employees."
BBA has about 10,700 employees worldwide, but as many as 80 percent work in the United States, Boekenkamp said. It also has operations in Europe and Asia.
Executive Beechcraft has slightly more than 250 employees at its locations, Boekenkamp said.
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It was uncertain whether the Meisinger family would remain with the company and that more details on management issues would be released after the deal closes on June 30.
Chevrestt will oversee FBO services and aircraft sales, maintenance, charter, and related support operations at four facilities.
Nov. 15 declared "Executive Beechcraft Day" in Missouri and Kansas.