Recent News and Announcements from Centre Partners
Denver, CO, August 9, 2005 Ross Aviation, LLC and Centre Partners announced today their acquisition of Scottsdale AirCenter, the premier Fixed Based Operation (FBO) at Scottsdale Airport in Arizona. Scottsdale AirCenter represents Ross Aviations second FBO investment since its formation in December 2004.
Scottsdale AirCenter is a full-service FBO serving the greater Phoenix region. Scottsdale/Phoenix is one of the largest and fastest growing metropolitan areas in the United States and, consequently, the local aviation market has witnessed significant growth.
Scottsdale AirCenter began operations in 2003 and has quickly earned a top five ranking for the past two years in the prestigious Aviation International News annual survey of North American FBOs. The 11.6 acre facility includes 77,000 square feet of hangar space, 690,000 square-feet of concrete ramp, and 22,000 square feet of executive terminal, pilot lounge and office space. The acquisition also includes a 7.5-acre parcel that will add capacity for 95,000 square feet of hangar space and 35,000 square feet of office space. Construction is scheduled to commence in the fourth quarter of 2005.
Ross Aviation, LLC was established through a partnership between Centre Partners and Jeff and Greg Ross to acquire and operate attractive properties in the highly fragmented and growing FBO sector. Jeff Ross and Greg Ross have over 20 years of experience in the ownership and operation of FBO properties, including Vail/Beaver Creek Jet Center, Colo.; Million Air La Quinta at the Desert Resorts Regional Airport, Calif.; Million Air Palm Springs at Palm Springs International Airport, Calif.; Newport Jet Center at John Wayne Airport in Orange County, Calif.; the Palomar Airport Center, at McClellan Palomar Airport in Carlsbad, Calif.; and, Denver Air at Jefferson County Airport in Broomfield, Colo.
Centre Partners is a leading middle market private equity firm with offices in New York, Los Angeles and Dallas. Centre Partners and its affiliates have invested over $3 billion of equity capital in more than 80 private equity transactions.
Bruce Pollack, Managing Partner of Centre Partners, said, Were pleased to have made our second investment in this sector, particularly as Scottsdale AirCenter is one of the finest FBOs in the country. This acquisition represents a very unique opportunity to acquire a premier FBO, offering first-class service, with tremendous growth potential, in an attractive market.
Ross Aviation President and Chief Executive Officer Jeff Ross said, Scottsdale AirCenters truly unique architecture and spacious facilities combined with a proven management team and growing market makes it an exciting investment. Were very proud of this acquisition.
Scottsdale AirCenter was previously owned by an investor group led by Herb Marchman. The local management team led by General Manager Tommy Walker has managed Scottsdale AirCenter since its opening in 2003 and will continue to drive the FBOs growth under the new ownership.
FBOs are aircraft service organizations focused on serving the needs of corporate, private, and fractional jet aircraft owners. FBOs primarily provide fuel, executive terminal, transportation, catering, hangar services, and office facilities for their customers. An estimated 3,800 FBOs are located at 5,300 airports in the United States.
About Centre Partners
Centre Partners, founded in 1986, with offices in New York, Los Angeles and Dallas , is a private equity firm focused on investments in middle market companies alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners and its affiliates have invested over $3 billion of equity capital in more than 80 businesses. Additional information about Centre Partners is available on the Internet at www.centrepartners.com.