Modern Aviation has announced that it has agreed to purchase the assets of XJet World Holdings, LLC subsidiary XJet Holdings, LLC, located at Centennial Airport (“KAPA”) in Denver, the company said.
The facility, which will be rebranded Modern Aviation after the acquisition closes, is the second FBO acquisition in less than 12 months for Modern Aviation, an FBO platform backed by Tiger Infrastructure Partners.
With more than 50,000 square feet of climate-controlled hangar, the facility can accommodate business jets up to a Gulfstream G650, Bombardier Global, Embraer Legacy 600, or Dassault Falcon 7x/8x.
The acquisition is expected to close in the fourth quarter of 2018, subject to satisfaction of conditions including receipt of relevant government and regulatory approvals.
Terms of the transaction were not disclosed.
Modern Aviation is building a national network of premium FBO properties. The management team includes executives from Universal Weather and Aviation and Atlantic Aviation. The Company is backed by Tiger Infrastructure Partners.
XJet is a private aviation company providing luxury service to aircraft owners and users. Headquartered in the United Arab Emirates, XJet provides its brand of award winning service from its European hub at London´s Stansted Airport which includes more than 90,000 square feet of dedicated hangar space, that can accommodate two 747 aircraft simultaneously, as well as a 17,000 square foot Club House.
Tiger Infrastructure Partners is a middle-market private equity firm that invests in growing infrastructure platforms. The firm targets investments in communications, energy, transportation, and related sectors, primarily located in North America and Europe.