Lynx FBO Network, a portfolio company of The Sterling Group, has acquired the FBO assets of World Jet Inc at Fort Lauderdale Executive Airport in Fort Lauderdale, Florida. No financial terms were disclosed. Honigman Miller Schwartz & Cohn LLP was legal adviser to Lynx on the transaction.
HOUSTON, Feb. 4, 2019 /PRNewswire/ — Lynx FBO Network (Lynx), a portfolio company of The Sterling Group, announced today it has acquired the FBO assets of World Jet, Inc. at Fort Lauderdale Executive Airport (FXE) in Fort Lauderdale, Florida. The acquisition will mark Lynx’s seventh FBO location.
“We see this expansion into the Florida market, and in particular South Florida, as an integral part of our growing network of FBOs. Lynx looks forward to working with the Fort Lauderdale Executive Airport, the city of Fort Lauderdale and the local FBO team to deliver a best-in-class service offering for our customers in the South Florida region,” said Chad Farischon, President & Partner with Lynx.
In the coming months, Lynx will be making significant investments in the newly acquired facility, including a refresh of the facility grounds and the design and development of a new FBO terminal.
Lynx is a rapidly growing network of FBOs in the general aviation industry with locations in Destin, Florida, Minneapolis (Anoka), Minnesota, Portland (Aurora), Oregon, Little Rock, Arkansas, Napa, California, Pittsburgh, Pennsylvania and now Fort Lauderdale, Florida. The Lynx vision is to build a values-based FBO network known for exceptional service and quality, a rewarding team member experience, and a commitment to continuing excellence. The Lynx team is comprised of industry veterans who have worked together building FBO networks over many years, serving in management roles at numerous large FBO networks including Landmark Aviation, Atlantic Aviation and Trajen. Lynx and Sterling continue to actively seek FBO acquisitions in North America.
Honigman Miller Schwartz & Cohn LLP served as legal advisor to Lynx in the acquisition.
About The Sterling Group
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from $100 million to $750 million. Sterling has sponsored the buyout of 54 platform companies and numerous add-on acquisitions for a total transaction value of over $10.0 billion. Currently, Sterling has over $1.9 billion of assets under management. For further information, please visit www.sterling-group.com.