InstarAGF acquires majority stake in Skyservice Investments

InstarAGF Asset Management has acquired a majority ownership interest in Skyservice Investments Inc, a Canadian provider of business aviation services operating in facilities in Toronto, Montréal, Calgary and Ottawa. No financial terms were disclosed. The seller was Fulcrum Capital Partners, which invested in Skyservice in 2012. InstarAGF, which two years ago acquired a stake in Billy Bishop Toronto City Airport, said it will partner with management to “augment the company’s value proposition and growth opportunities.” Toronto-based InstarAGF invested via its InstarAGF Essential Infrastructure Fund, which raised $740 million earlier in 2017.


InstarAGF Essential Infrastructure Fund Partners With Skyservice

TORONTO, Sept. 18, 2017 (GLOBE NEWSWIRE) — InstarAGF Asset Management Inc. (“InstarAGF”) today announced that the InstarAGF Essential Infrastructure Fund has acquired a majority equity ownership interest in Skyservice Investments Inc. (“Skyservice”), Canada’s leading provider of business aviation services operating in strategically located facilities in Toronto, Montreal, Calgary and Ottawa.

Skyservice, which was founded in 1986, operates three complementary divisions: fixed-base operations (“FBO”), aircraft management services; and aircraft maintenance. Skyservice manages the largest, most diverse fleet of aircraft in Canada and is frequently ranked as a top provider of FBO services by industry publications such as Professional Pilot Magazine and Aviation International News Magazine.

InstarAGF, which focuses on mid-sized infrastructure assets in North America in the energy, utilities, civil and social infrastructure categories, manages a portfolio of high quality businesses that include an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region.

“This is an exceptional opportunity to acquire a majority interest in a premier aviation infrastructure business that is led by a proven management team and generates stable cash flows,” said Gregory J. Smith, President and Chief Executive Officer of InstarAGF. “We share Skyservice’s commitment to delivering world-class service, safety and convenience for customers and look forward to partnering with management to augment the company’s value proposition and growth opportunities.”

“We are proud of Skyservice’s award-winning facilities, services and safety record, and are pleased to welcome InstarAGF as a long-term partner for the next phase of our company’s growth,” said Marshall Myles, Chairman and Chief Executive Officer of Skyservice. “Working alongside the experienced InstarAGF team, we look forward to further enhancing our stakeholder relationships and to expanding Skyservice’s distinctive service offering and geographic footprint in the years ahead.”

About InstarAGF Asset Management
Launched in 2014, InstarAGF is an independent alternative asset management firm with an emphasis on North American middle-market opportunities in the infrastructure sector and other alternative real asset categories. InstarAGF, which makes direct investments and co-investments with like-minded investors and strategic partners, is a joint venture between Instar Group Inc., a company owned by Gregory J. Smith, and AGF Management Limited, one of Canada’s largest independent investment management firms. For more information:

About Skyservice
Skyservice is a dynamic Canadian aviation organization that is dedicated to the core principles of safety and service. With over 30 years of experience, Skyservice is the leader in the Canadian business aviation market. With a diverse team of aviation experts and a commitment to exceptional service and outstanding levels of safety, Skyservice has earned its world-class reputation for excellence in aviation. At each of our four FBO locations in Toronto, Calgary, Montreal and Ottawa, we are dedicated to a full range of business aviation services, leading the industry in each of the following core business competencies: Aircraft Maintenance, Aircraft Management, Charter, FBO, Aircraft Sales and HondaJet Sales. Visit today to learn more.

For More Information:

Sarah Borg-Olivier
Senior Vice President
InstarAGF Asset Management
Tel: 416-815-6260

Catherine Vettese
Manager, Marketing and Communications
Tel: 905-362-5442

Photo courtesy of Skyservice Investments Inc