Modern Aviation Acquires FBO at Boeing Field in Seattle

Modern Aviation Acquires FBO at Boeing Field in Seattle

December 26, 2018 – New York, NY. Modern Aviation announced that it has acquired Gateway USA, LLC, which operates one of the two main FBOs at Boeing Field (“KBFI”) in Seattle, WA. The Seattle facility, which will be rebranded as Modern Aviation in the first quarter of 2019, is the third FBO acquisition closed in less than 12 months for Modern Aviation, an FBO platform backed by Tiger Infrastructure Partners.

The FBO offers more than 65,000 square feet of hangar space, 18,000 square feet of terminal and officespace, and aircraft maintenance, repair and overhaul services via its Part 145 Repair Station. Gateway is also the exclusive authorized dealer and service center for Quest Kodiak in the Pacific Northwest. Gateway provides high levels of customer service, safety and quality, and has received its IS‐BAH stage IIregistration. Boeing Field is one of the top 20 busiest general aviation airports in the U.S. and is the principal business aviation airport in the greater Seattle, Washington area.

Gateway’s Seattle facility is consistently rated one of the top FBO service providers in the Northwest U.S. according to the AIN Annual FBO Survey and Pilot’s Choice Awards. “Gateway is known for its outstanding customer service, commitment to safety, and its pool of talented employees, making it a perfect fit for the Modern Aviation platform,” said Modern Aviation CEO, Mark Carmen. “Gateway will continue to be led by General Manager Chuck Kegley and his dedicated Seattle team who will continue to deliver the same level of service that customers experience today.”

Carmen added, “Seattle is a highly attractive, growing general aviation market, and we plan to develop Gateway’s additional leasehold directly adjacent to its current facility in 2019 by building 48,000 square feet of additional hangar and office space to service growing demand in the region. Additionally, we look forward to providing industry best practices through Gateway’s team of dedicated employees to benefit all stakeholders at Seattle’s Boeing Field.”

“Gateway, which has been operating at Boeing Field since 2003, has delivered outstanding customer service through our exceptional team of employees,” said Gateway co‐founders Joe Clark and Clay Lacy. “Modern Aviation is well positioned to build on our success at Boeing Field and to further develop the business to reach its full potential. We are confident that Modern will provide a great home for the team and our loyal customer base.”

Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry‐leading safety. Modern Aviation has secured the backing of the growth‐oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean. Winston & Strawn acted as legal counsel for Modern Aviation.

About Modern Aviation

Modern Aviation is a growing company that 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. For more information visit: modern-aviation.com.

About Tiger Infrastructure

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. For more information visit: www.tigerinfrastructure.com.

Contact: Modern Aviation, Emmanuel Yapo, eyapo@modern‐aviation.com.

Modern Aviation Acquires Second FBO Location

Modern Aviation Acquires Second FBO Location

September 17, 2018 – New York, NY. Modern Aviation announced that it has entered into an agreement to purchase the assets of XJet Holdings, LLC, a subsidiary of XJet World Holdings, LLC, at Centennial Airport (“KAPA”). The Denver 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 first-class executive terminal features rentable office space, an auto spa and auto storage, a conference room, a crew lounge, private bathrooms with showers and sleep rooms. Located just 15 miles southeast of Denver, Centennial Airport is a top 15 general aviation airport in the U.S. and is the principal business aviation airport in Denver, Colorado.

XJet’s Denver facility is consistently rated one of the top FBO service providers in the U.S. according to the AIN Annual FBO Survey. “XJet is known for its high-quality facilities, outstanding customer service and commitment to safety, which is a perfect fit for the Modern Aviation platform,” said Modern Aviation CEO, Mark Carmen.

Carmen added, “Denver is a highly attractive, growing general aviation market, and we plan to invest in additional infrastructure to create the premier FBO location in the Rocky Mountain region. We intend to immediately expand the ramp to accommodate more traffic and have plans to build out additional hangars on the existing leasehold to service growing demand in the region. Additionally, we look forward to providing industry best practices that benefit all stakeholders at Denver Centennial Airport.”

“XJet built outstanding facilities at APA, and over the last ten years has maintained an incredible track record of delivering exceptional customer service by a team who love what they do,” said XJet founder and CEO, Josh Stewart. “Modern Aviation is well positioned to build on that success and further develop the leasehold to reach its full potential. I’m confident that Modern will provide a great home for the team, and our loyal customer base. XJet will now focus on its European hub at London’s Stansted Airport and expanding its Seven Star Service brand in the MENA region.”

Modern Aviation’s strategy is to acquire and develop FBO operations in growth markets and to focus on providing exceptional service, extraordinary quality and industry-leading safety. Modern Aviation has secured the backing of the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean.

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.

About Modern Aviation

Modern Aviation is a growing company that 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. For more information visit:  modern-aviation.com.

About XJet

Founded in 2007, 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. www.xjet.com.

About Tiger Infrastructure

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. For more information visit: www.tigerinfrastructure.com.

Contact: Modern Aviation, Emmanuel Yapo, eyapo@modern-aviation.com.

Modern Aviation Launches Business with First FBO Acquisition

Modern Aviation Launches Business with First FBO Acquisition

February 22, 2018 – New York, NY. Modern Aviation, an FBO platform backed by Tiger Infrastructure Partners (“Tiger”), today announced that it had closed the acquisition of Air Wilmington located at Wilmington International Airport in Wilmington, North Carolina.

Air Wilmington is the sole FBO at Wilmington International Airport where it provides fueling, hangar storage and MRO services to general aviation, military and commercial airlines. “Bill Cherry and his team have built a first-class operation in Wilmington over the last 40 years. We look forward to continuing Air Wilmington’s legacy of exceptional customer service, quality and safety, strong relationship with the airport and active involvement in the community,” said Modern Aviation CEO and Co-founder, Mark Carmen.

Carmen added, “our goal is to build a national network of premier FBO properties characterized by excellent facilities and outstanding service.” Mr. Carmen is joined in this effort by Emmanuel Yapo who previously served as Director of Corporate Development for Atlantic Aviation. The Company’s strategy is to acquire or build FBO operations at growing locations and to focus on premium service and operations.

Modern Aviation has secured the backing of the growth-oriented infrastructure private equity fund, Tiger Infrastructure Partners. “We are very excited to back Mark and his team at Modern Aviation with our capital and work with them as they seek to build a major new FBO platform company,” said Emil W. Henry, Jr., Tiger’s Managing Partner.

Modern Aviation is actively engaged in pursuing additional FBO acquisitions and development opportunities in North America and the Caribbean.

About Modern Aviation

Modern Aviation is a growing company that 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. For more information visit: modern-aviation.com.

About Air Wilmington

Air Wilmington owns the sole fixed base operator at the Wilmington International Airport under a long-term concession. The FBO provides fueling, MRO and hangar services to general aviation, military and commercial customers. Air Wilmington’s facilities include an 8,400 square foot FBO terminal and over 100,000 square feet of hangar space. For more information visit: www.airilm.com.

About Tiger Infrastructure

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. For more information visit: www.tigerinfrastructure.com.


Contact: Modern Aviation, Emmanuel Yapo, eyapo@modern-aviation.com.