Ridgewood Infrastructure LLC, a leading infrastructure investor in the U.S., announced the acquisition of APP Jet Center, a fixed–base operator that owns and operates essential aviation infrastructure.
"APP has an outstanding business model, centered on providing exceptional service to its long-standing and high-quality customer base," said Ryan Stewart, partner of Ridgewood. "With a strong foundation built upon key facilities in several major metropolitan markets, Ridgewood looks forward to working in partnership with APP to continue growing the business, both organically and through selective acquisition." Stewart added, "We are excited to help take APP to the next level with continued focus on fostering long-term partnerships with our customers and an ongoing commitment to operational excellence and sustainability."
Dan Harrow, CEO of APP, said, "We founded APP in 2009 and were recently seeking a value-adding partner to help us achieve our potential. We are thrilled to be partnering with Ridgewood as we take the next step with our business. Ridgewood has deep transportation infrastructure experience and a track record of success working with companies like ours."
Ross Posner, managing partner of Ridgewood Infrastructure, said, "We are thrilled to be partnered with Dan and the APP team and to have the opportunity to add this investment to our portfolio. We look forward to working together to accelerate APP's growth." Posner added, "Ridgewood's investment in APP exemplifies our ability to create differentiated exposure to essential infrastructure in the U.S. lower middle market, drive value and deliver beneficial outcomes."