Chicago, December 13, 2007 GTCR Golder Rauner, LLC and Encore FBO, LLC announced today that they have jointly entered into a definitive agreement to acquire the fixed base operator (“FBO”) business including the related charter, aircraft sales, and maintenance parts assets of Landmark Aviation from Dubai Aerospace Enterprise. GTCR Golder Rauner is a leading private equity firm and Encore FBO, a portfolio company of Houston-based Platform Partners LLC, operates a growing FBO network in the United States and Western Europe.
The Landmark and Encore FBO networks will join to form a single organization comprised of 42 FBOs across North America and Western Europe. The combined entity will be one of the world’s largest FBO networks and will offer fueling and maintenance services for general aviation aircraft. The combined entity will continue to operate under the Landmark Aviation brand. Customers should expect to continue to receive the same high level of service, delivered by the Landmark and Encore customer service professionals, respectively.
“We are thrilled to facilitate the integration of two world-class aviation service providers,” said Craig Bondy, principal at GTCR. “The combined network is extremely well-positioned in an attractive growth market, and we particularly look forward to partnering with Dan Bucaro and the management team, along with Platform Partners, to execute on their vision for Landmark going forward.”
“The combination of Landmark and Encore creates a global FBO network that will offer unparalleled service for our many customers. We look forward to working with the Encore and Landmark management teams and GTCR to continue to build Landmark in the future,” said Fred Brazelton, President of Platform Partners.
“The Landmark and Encore assets will complement one another and enhance the value of both networks,” said Dan Bucaro, the CEO of the combined entity. “We look forward to providing our customers with an industry-leading experience.”
GTCR, Platform, and Encore were advised by Kirkland & Ellis, Vinson & Elkins, and PricewaterhouseCoopers. Financing and merger advisory for the transaction was provided by Barclays Capital.
About Landmark Aviation
Landmark Aviation is one of the world’s largest providers of business aviation services. Building on decades of industry expertise, Landmark Aviation consists of a fixed base operation (FBO) network with multiple locations throughout North America. Landmark Aviation is dedicated to enhancing the ownership and operating experience for every customer. For more information, please visit www.landmarkaviation.com.
About Encore FBO
Encore FBO LLC is headquartered in Houston, Texas and is a portfolio company of Platform Partners, LLC, a private equity firm. For more information, please visit www.encorefbo.com.
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.
About Platform Partners
Platform Partners, LLC is a private holding company that makes investments in small to middle-market companies with the intent of growing these business into industry leaders. Based in Houston, Platform seeks investment opportunities that allow partnerships with management teams and entrepreneurs that are committed to building industry leaders through a combination of organic and acquisition growth. More information about Platform can be found at www.platformllc.com.