Story ID: 060
Signature Aviation To Acquire TAC Air FBOs
By: Curt Epstein
Caption: Signature Flight Support will expand its already industry-leading network through an agreeement to purchase TAC Air and its 16 FBOs.
Word Count: 242
Signature Aviation, the parent company of Signature Flight Support, has entered into an agreement to purchase the FBO holdings of TAC Air, which consist of 16 locations throughout the U.S. The Signature Flight Support FBO chain has more than 200 locations globally.
Among the locations are six where TAC Air is the sole service provider: Buffalo-Niagara (New York) International Airport; McGhee Tyson Airport in Knoxville, Tennessee; Texarkana Regional and Fort Smith Regional airports in Arkansas; Shreveport (Louisiana) Regional Airport; and Rick Husband Amarillo (Texas) International Airport.
At Denver Centennial Airport, Signature is already present on the field, as well as at Dallas Love Field, where Signature has three facilities among the several service providers. At three other locations—Bradley International Airport in Connecticut, North Carolina’s Raleigh-Durham International Airport, and Eppley Airfield in Omaha, Nebraska—the move will make Signature the only FBO operator, which may result in the company having to divest one facility at each of those locations.
The agreement also includes TAC Air’s hangar complex at Arizona’s Scottsdale Airport, adding some 65,000 sq ft of aircraft shelter to the existing Signature facility there.
This marks Signature’s first major acquisition since it was purchased last year by a consortium of three private equity firms. Subject to regulatory approvals, the transaction is expected to close in the second half of this year.