December 14, 2007
GTCR and Encore FBO Partner to Acquire Landmark Aviation
Chicago, IL — 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.
Media Contact: Clif Stroud Phone: 703.346.7323
Media Contacts at GTCR: Craig Bondy Phone: 312.382.2224 Mark Anderson Phone: 312.382.2239
Media Contact at Weber Shandwick: Sean Mogle Phone: 312.988.2046