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Modern Aviation announced Thursday it has acquired American Aero at the Fort Worth Meacham International Airport (FTW). The company signed a definitive purchase agreement to buy 100 percent of the American Aero membership interests from an affiliate of Keystone Group.
"We are excited to have American Aero join the Modern Aviation family and expand our presence to the high-growth DFW area," Modern Aviation CEO Mark Carmen said. "American Aero has distinguished itself among FBOs by being the first in the world to earn a Stage 3 International Standard for Business Aircraft Handling (IS-BAH) safety and ground handling certificate. Safety is a critically important part of the Modern Aviation culture and all of our other locations have now achieved either a Stage 1 or 2 certificate."
American Aero has a 31-acre FBO campus with 247,000 square feet of hangar and office space. The company has the largest open ramp on the field with over 11 acres. The 8,600-square-foot FBO was designed to maximize safety, efficiency and comfort for flight crews and passengers. Over the last six years, American Aero has been ranked as one of the best FBOs in the world by the annual Aviation International News FBO survey, as well as the best FBO in Texas and the South-Central Region.RELATED STORIES:Modern Aviation acquires Puerto Rico FBO in San JuanModern Aviation adds to rapidly growing portfolio, buying first midwestern FBOModern Aviation set to acquire three FBOs in the northeast
"We are proud to have built a world-class FBO in Fort Worth, Texas, over the last 12 years," a Keystone Group representative said. "We believe Modern Aviation is the perfect owner to continue the success and growth of American Aero. This is a great day for American Aero and Meacham International Airport."
This marks the first FBO in Texas for Modern Aviation and brings the company's FBO network to 17 locations in the U.S. and Puerto Rico. Modern Aviation said the transaction is expected to close in the current calendar quarter.
"Adding American Aero to the Modern Aviation platform will enable us to continue expanding our network, benefitting our customers and employees," Carmen said. "All of the employees of American Aero will remain with Modern Aviation post-acquisition. We look forward to welcoming our new colleagues and customers to the Modern Aviation family."