Landmark Aviation, which is backed by the Carlyle Group (Nasdaq: CG), has acquired Ross Aviation for an undisclosed amount.
Denver-based Ross Aviation provides aviation fueling, hangar and other line services to business and commercial aviation customers. The company operates through 20 locations. Ross Aviation has made 22 acquisitions since Centre Partners Management LLC first backed the company in 2004.
New York-based Centre Partners has invested more than $3 billion in more than 90 transactions. The firm seeks to invest between $20 million and $50 million per transaction, targeting companies that bring in between $50 million and $500 million in revenue. The firm's portfolio companies include Bellisio Foods, which made an acquisition in 2013, and Environmental Logistics Services.
Landmark Aviation, headquartered in Houston, operates a network of fixed-base operations, charter and management services. The group is backed by Carlyle, which bought the company in 2012 from Chicago private equity firm GTCR. GTCR was Mergers & Acquisitions M&A Mid-Market Private Equity Firm of the Year award winner for 2013.
The two companies will be combined.
Chris Rogers, Jon Nemo and Doug Kinard from Harris Williams & Co. provided financial advice to Ross on the deal.