Centre Partners closes Ross Aviation sale to Carlyle

Centre Partners Management said Tuesday it has closed its previously announced sale of Ross Aviation to Landmark Aviation, which is backed by The Carlyle Group. Financial terms weren’t announced. Denver-based Ross Aviation provides aviation fueling, hangar and other line services to business and commercial aviation customers. Rothschild advised Landmark on the deal while Harris Williams & Co. advised Ross Aviation.

PRESS RELEASE

NEW YORK, August 5, 2014 – Centre Partners Management LLC, a leading middle market private equity firm with offices in New York and Los Angeles, announced today that it has completed the sale of Ross Aviation LLC to Landmark Aviation, a portfolio company of The Carlyle Group.

Headquartered in Denver, Colorado, Ross Aviation is a leading operator of fixed based operations (“FBOs”), with a network of 21 strategic locations in high profile business and resort destinations throughout the United States, including Denver, Santa Fe, Scottsdale, Miami, and the Hawaiian islands. The Company provides aviation fueling, hangar and other line services to business and commercial aviation customers (www.rossaviation.com).

“We applaud the efforts of Jeff Ross and his team in driving the growth of the business over the course of Centre’s investment period,” said Bruce Pollack, Managing Partner of Centre Partners. “Ross Aviation illustrates Centre’s successful investment strategy of partnering with proven management teams to build market leading companies.”

Jeff Bartoli, Managing Director of Centre Partners, added “Over the course of our investment period, we completed 22 acquisitions and dramatically increased market share and profitability. Our disciplined approach to growing and managing the business allowed us to assemble a first class company which proved to be a highly attractive acquisition candidate for a strategic buyer.”

“Centre Partners has been a terrific partner,” said Jeff Ross, Chief Executive Officer of Ross Aviation. “With their strategic guidance and support, we built a market leading platform with strong competitive positions and substantial operating momentum. We are excited for the many opportunities the Landmark combination will bring for Ross Aviation and its employees, and believe that the transaction will further increase the value proposition for our customers.”
Harris Williams & Co. served as financial advisor and Dechert LLP served as legal advisor to Ross Aviation.

About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $3 billion in more than 90 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. Additional information is available at www.centrepartners.com.

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