In the latest transaction in a choppy FBO consolidation market, Hawthorne Global Aviation Services, which operates six FBOs in the eastern and central United States, changed hands. Moelis Capital Partners had owned the company – which traces its roots back to the 90-year aerospace industry – since 2011 and it has now been purchased by a new joint venture between global investment manager Wafra and Nova Infrastructure as part of a move that will inject new funding into the brand. and might see him add more locations.
“Hawthorne has a track record of strong operational performance and this investment represents an organic and strategic growth opportunity in the fragmented FBO market,” said Adel Alderbas, Chief Investment Officer of Wafra. “Together with Nova, we look forward to seeing Hawthorne expand its reach, realizing its potential as a premier FBO asset platform.”
Hawthorne operates facilities at Long Island MacArthur Airport in Islip, New York; Chicago Executive Airport; Tuscaloosa Regional Airport (Alabama); Chippewa Valley Regional Airport in Eau Claire, Wisconsin; Atlanta Cobb County International; and Sioux (Iowa) Gateway Airport. For these last three destinations, it is the sole provider of air services.
“We believe Hawthorne’s existing locations form a premier multi-regional FBO network, and with the support of Nova and Wafra, we look forward to expanding our footprint to serve a greater portion of the aviation industry,” said Hawthorne CEO Chuck Kegley.