BBA unit acquires US aviation firm

published 4 January 2012

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.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

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.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.