Landmark Aviation Goes Up On the Block

Private equity firms GTCR Golder Rauner and Platform Partners are seeking a buyer for Landmark Aviation, an aircraft maintenance services company that could be worth as much as $700 million, Reuters reported Wednesday. The buyout firms, which bought Landmark in 2007 from state-run Dubai Aerospace Enterprise for an undisclosed sum, have hired Morgan Stanley to advise on the auction process, the people said.

 

 

(Reuters) – Private equity firms GTCR Golder Rauner and Platform Partners are seeking a buyer for Landmark Aviation, an aircraft maintenance services company that could be worth as much as $700 million, according to people familiar with the matter.

 

The buyout firms, which bought Landmark in 2007 from state-run Dubai Aerospace Enterprise for an undisclosed sum, have hired Morgan Stanley to advise on the auction process, the people said.

 

The auction is in the second round and interested parties include private equity firms and infrastructure funds, some of the people said, adding that Landmark could be worth some $600 million to $700 million to the highest bidder.

 

Chicago firm GTCR declined to comment, while Houston-based Platform Partners did not respond to requests for a comment. Morgan Stanley did not have an immediate comment.

 

Landmark, also based in Houston, is one of the country’s largest fixed-based operator networks offering fueling, maintenance and ground support services to the aviation markets, according to its website.

 

Landmark’s current network includes 11 fixed-base operations in Europe and Canada, as well as 41 locations in the United States. It also provides aircraft repair and alteration services and parts replacement. By Soyoung Kim