Modern Aviation Agrees To Acquire Sacramento FBOs
Growing FBO network operator Modern Aviation has agreed to acquire three FBO locations in the Sacramento, California, area operated by Superior Aviation Company (SACjet).
Modern Aviation on May 13 announced a definitive agreement to acquire Capital Jet Center at Sacramento International Airport (SMF), Mather Jet Center (MHR) at Mather Airport, and Executive Jet Center at Sacramento Executive Airport (SAC), for an undisclosed price. The company expects the transaction to close in the second or third quarters pending regulatory approvals.
The agreement follows Modern Aviation’s announcement in October 2021 that it will acquire five New York City-area FBO locations from Sheltair Aviation. The Sheltair properties named in the agreement include FBOs at LaGuardia, JFK, Westhampton, Republic/Farmingdale, and Long Island MacArthur Airports.
“We founded Modern Aviation to develop a national network of FBOs,” CEO Mark Carmen said of the latest acquisition. “The opportunity to acquire SACjet’s three Sacramento FBOs and build upon their well-deserved reputation for client service is another important milestone in executing our strategy.”
Backed by New York City-based Tiger Infrastructure Partners, Modern Aviation said it has grown to nine FBO locations, including two locations awaiting airport approvals in New York, since its first acquisition in 2018. The three Sacramento FBOs will build its network to 12 locations.
“As the capital of California, Sacramento is a highly attractive, growing general aviation market, and these FBOs provide world class service to a wide range of customers, including general aviation, business aviation, sports team and other VIP charters, military, cargo and commercial airlines,” Carmen said. “We look forward to continuing to provide industry best practices in customer service and safety to benefit all stakeholders of the Sacramento FBOs.”
Modern Aviation said it intends to hire all of SACjet’s current employees.