Houston, TX November 01, 2018
Lynx FBO Network (“Lynx”), a portfolio company of The Sterling Group, announced today that it has completed the acquisition of the FBO assets of Voyager Jet Center (“Voyager Jet”) at Allegheny County Airport (“AGC”) in Pittsburgh, Pennsylvania. The acquisition of Voyager Jet marks Lynx’s sixth FBO location and third FBO acquired this year.
“We believe the Pittsburgh market, and its rise as a global innovation city, is a perfect complement to our growing network of FBOs and we look forward to working with the Allegheny County Airport Authority (ACAA), Voyager Jet and the local FBO team to deliver a best-in-class service offering for our customers in the Mid-Atlantic region,” said Matt DeLellis, Chief Financial Officer with Lynx.
Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Napa, California and now Pittsburgh, Pennsylvania. The Lynx vision is to build a values-based FBO network known for exceptional service and quality, a rewarding team member experience, and a commitment to continuing excellence. The Lynx team is comprised of industry veterans who have worked together building FBO networks over many years, serving in management roles at numerous large FBO networks including Landmark Aviation, Atlantic Aviation and Trajen. Greg Elliott, a Partner at The Sterling Group, has been involved in building several FBO networks in the past fifteen years, including roles as the Chairman of Encore and Trajen, and Board member of Landmark Aviation. Lynx and Sterling continue to actively seek FBO acquisitions in North America.
Terms of the transaction were not disclosed. Honigman Miller Schwartz & Cohn LLP served as legal advisor to Lynx.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of over 52 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.9 billion of assets under management. For further information, please visit www.sterling-group.com.
Past performance is no guarantee of future results and all investments are subject to loss.