4 January 2012
Signature Flight Support acquires three new locations
BBA Aviation plc today announces that Signature Flight Support ("Signature") has recently acquired the assets of Azalea Aviation in Mobile, Alabama for an initial consideration of $22.0m with further payments of up to $5.3m over a 5 year period. Signature has also acquired 95% of Arrindell Aviation Services in St Maarten, Caribbean for a cash consideration of $7.8m.
Azalea Aviation incorporates two sole source Fixed Base Operations ("FBOs"), the Mobile Air Center at the Mobile Regional Airport and the Downtown Air Center at the Mobile Downtown Airport with long lease terms of over 26 and 30 years respectively. This acquisition extends the Signature network into a key and growing business and general aviation location.
Arrindell Aviation Services provides commercial and business and general aviation services at St. Maarten's Princess Juliana International Airport, with a 15 year remaining lease term. Princess Juliana International Airport is the second busiest airport in the Northeastern Caribbean. Following the acquisition of Tropical Aviation in Puerto Rico in July 2011, this represents an important extension of Signature's presence in key resort destinations in the Caribbean.
These acquisitions are in line with the Group's growth strategy and bring the total number of North American FBOs to 65 and globally to 111.
Simon Pryce, Group Chief Executive, commented:
"The addition of these new locations represents another meaningful step in Signature Flight Support's expansion, and further strengthens our position as the leading North American and global FBO network. We are pleased to welcome these new businesses and their employees to the Group. We remain focused on taking advantage of the consolidation opportunities in the fragmented FBO market as part of the Group's broader growth strategy."
Enquiries:
BBA Aviation Plc +44 (0)207 514 3999
Mark Hoad, Group Finance Director
Jemma Spalton, Head of Communications & Investor Relations
Tulchan Communications +44 (0)20 7353 4200
David Allchurch
Christian Cowley
Martha Kelly
Notes to Editors
About BBA Aviation
BBA Aviation plc is a leading global aviation support and aftermarket services provider with market leading businesses and attractive growth opportunities. BBA Aviation's Flight Support businesses (Signature Flight Support and ASIG) are focused on refueling and ground handling of business and commercial aviation aircraft. Its Aftermarket Services and Systems businesses (Dallas Airmotive, Premier Turbines, H&S Aviation, International Turbine Service, Barrett Turbine Engine Company, International Governor Services, Ontic and APPH) are focused on the repair and overhaul of jet engines and the manufacture and service of aerospace sub-systems and components. For more information, please visit www.bbaaviation.com
About Signature Flight Support
Signature Flight Support Corporation, a BBA Aviation plc company, is the world's largest fixed-base operation (FBO) and distribution network for business aviation services. Signature services include fuelling, hangar and office rentals, ground handling, maintenance and a wide range of crew and passenger amenities at strategic domestic and international locations. For more information, please visit: www.signatureflight.com
