Sterling Group has created a new fixed based operator (FBO) network and acquired Destin Jet, an FBO in Destin, Florida, the company said.
The company said the acquisition is at Destin Executive Airport in Destin, Florida, which is part of the company´s new FBO network.
Chad Farischon and Tyson Goetz, former members of both the Trajen and Landmark Aviation management teams, will lead and manage the network, executing a buy-and-build strategy. Farischon and Goetz have purchased and integrated over 50 FBOs over the course of their careers.
Destin Jet serves resort destinations in the Florida panhandle area and the Emerald Coast.
Sterling Group is a Houston-based private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Sterling has over USD2.4 billion of assets under management.