Bedford, MA (May 28, 2013) –Rectrix Commercial Aviation Services (RECAS) today announced the acquisition of APP Jet Center Sarasota located at the Sarasota-Bradenton International Airport (SRQ). The acquisition was completed in its entirety for an undisclosed amount of cash.
“The acquisition of Airport Property Partners’ (APP) Sarasota base represents a strategic initiative that will allow Rectrix to enhance its operations at SRQ,” said Thomas Russell, Executive Chairman of RECAS. “The result will be added customer benefits, including expanded maintenance—made possible through Rectrix’s recent acquisition of AirFlyte in Westfield, MA. Implementation of an AirFlyte satellite, already in the planning stages, will be accelerated because of additional space immediately available through the acquisition.”
In January, Rectrix announced the acquisition of AirFlyte, Inc. of Westfield, Mass – a full-service executive terminal FBO with state of the art maintenance and hangar facilities.
"This is a transaction that is good for both parties and for the Airport," said Thom Harrow, CEO of Airport Property Partners, owner of the Sarasota FBO. "For APP, it allows us to realign our assets and pursue more properties in other markets."
Rectrix Aerodrome Centers at SRQ consists of 24 acres on airport property, and can accommodate more than 180,000 square feet of aircraft hangers and passenger service facilities. The purchase of APP’s Sarasota base will allow Rectrix to service up to four aircrafts at a time, and will create additional space for roughly 60-70 planes annually. Additionally, the expansion of AirFlyte at SRQ is expected to produce a number of new employment opportunities in the area, fifteen of which will be created in the first eighteen months alone.
“Rectrix has seen tremendous growth in the past year in Massachusetts and Florida,” said Rectrix President and CEO Richard Cawley. “High quality customer service is at the core of every move our company makes. I am confident that this expansion will benefit our clients and provide them with more service options. In addition this growth will generate new economic development for the regions we serve.”
The acquisition of APP’s Sarasota FBO is the latest milestone in a year of recent growth and expansion for Rectrix. The company recently won a multi-million dollar contract from the Massachusetts Port Authority to develop world class fixed-base operations (FBO) services at Worcester Regional Airport and L.G. Hanscom Field.
About Rectrix Commercial Aviation Services
Rectrix Commercial Aviation Services is a holding company with four operating divisions: Rectrix Aviation; Rectrix FBO JetCenters, Rectrix Aircraft Maintenance and Rectrix Business Solutions. Information on any of the companies’ services or divisions may be obtained at www.rectrix.aero, or email [email protected].
