FT. WORTH, Texas, April 11, 2024 (GLOBE NEWSWIRE) — Modern Aviation today 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.
About Modern Aviation
Modern Aviation is a growing company that is building a national network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality, and industry leading safety. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information visit: https://modern‐aviation.com
About Keystone Group
Keystone Group, LP is a private investment firm for multiple generations of a high net worth family based in Fort Worth, Texas. Since its founding in 1985, Keystone has invested in numerous businesses and partnerships in and outside of the energy industry, and today its management team oversees a global portfolio of diverse assets.
Contact:
Modern Aviation, Emmanuel Yapo: eyapo@modern-aviation.com
Keystone Group, Marc Epstein: [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5976d857-5b68-42f8-a250-0e5ef67ea58b
American Aero Terminal
American Aero’s passenger terminal that will be acquired by Modern Aviation
Originally published at https://www.einpresswire.com/article/702876857/modern-aviation-to-acquire-american-aero-at-fort-worth-meacham-international-airport
