Macquarie Infrastructure Corporation (NYSE:MIC) has announced that its Atlantic Aviation subsidiary has entered into an agreement to purchase the assets of Orion Jet Center at Miami-Opa Locka Executive airport (OPF), the company said.
The acquisition increases the Atlantic Aviation network of fixed base operations (FBO) to 71 locations throughout the US. Terms of the transaction were not disclosed.
Orion Jet Center features over 200,000 square feet of newly constructed hangar space, the largest of which is capable of handling Global Express sized aircraft. The facility also includes 36,000 square feet of office and maintenance space. The recently renovated executive terminal at Orion includes three conference rooms, a crew lounge, showers and sleep rooms and a VIP lounge.
Closing of the transaction is expected in the third quarter of 2017, subject to satisfaction of conditions including receipt of relevant government and regulatory approvals.
Atlantic Aviation, headquartered in Plano, Texas, provides a wide range of aviation services and a dedicated concierge service for general aviation aircraft owners and pilots across the United States.
MIC owns and operates a diversified group of businesses providing basic services to customers in the United States. Its businesses consist of a bulk liquid terminals business, International-Matex Tank Terminals, an airport services business, Atlantic Aviation, entities comprising an energy services, production and distribution segment, MIC Hawaii, and entities comprising a Contracted Power segment.
MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.