BBA unit acquires US aviation firm
BBA Aviation's Signature Flight Support business has acquired the assets of US firm Azalea Aviation for an initial consideration of $22m.
BBA Aviation's Signature Flight Support business has acquired the assets of US firm Azalea Aviation for an initial consideration of $22m.
The deal also includes further payments of up to $5.3m over a 5 year period.
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The acquisition is intended to extend the Signature network into a key and growing business and general aviation location.
They bring the total number of acquisitions of North American fixed base operations to 65 and globally to 111.
Simon Pryce, Group Chief Executive, said: "The addition of these new locations represents another meaningful step in Signature Flight Support's expansion, and further strengthens our position as the leading North American and global FBO network.
"We remain focused on taking advantage of the consolidation opportunities in the fragmented FBO market as part of the group's broader growth strategy."
The share price rose 0.11% to 180.9p by 08:42AM.
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