Modern Aviation announced that it has signed a definitive purchase agreement to acquire 100% of the membership interests in FW American Aero, LLC (“American Aero”) at Fort Worth Meacham International Airport (KFTW) from an affiliate of Keystone Group, L.P.
Modern Aviation CEO Mark Carmen stated, “We are excited to have American Aero join the Modern Aviation family and expand our presence to the high growth DFW area. American Aero has distinguished itself among FBOs by being the first in the world to earn a Stage 3 International Standard for Business Aircraft Handling (IS-BAH) safety and ground handling certificate. Safety is a critically important part of the Modern Aviation culture and all of our other locations have now achieved either a Stage 1 or 2 certificate.”
American Aero operates on a 31-acre FBO campus with 247,000 square feet of hangar and office space, and the largest open ramp on the field of more than 11 acres. American Aero’s 8,600-square-foot FBO was designed to maximize safety, efficiency, and comfort for flight crews and passengers. For the last six years, American Aero has been ranked in the annual Aviation International News FBO survey as one of the best FBOs in the world and the best FBO in Texas and the South-Central Region.
A Keystone Group representative stated, “We are proud to have built a world-class FBO in Fort Worth, Texas, over the last 12 years. We believe Modern Aviation is the perfect owner to continue the success and growth of American Aero. This is a great day for American Aero and Meacham International Airport.”
Mark Carmen added, “Adding American Aero to the Modern Aviation platform will enable us to continue expanding our network, benefitting our customers and employees. All of the employees of American Aero will remain with Modern Aviation post-acquisition. We look forward to welcoming our new colleagues and customers to the Modern Aviation family.”
The addition of American Aero will represent Modern’s first FBO in Texas and brings the Company’s FBO network to 17 locations in the U.S. and Puerto Rico.
Modern Aviation expects the transaction to close in the current calendar quarter.
