Signature Flight Support to acquire St. Thomas Jet Center
Nov 1, 2018
Signature Flight Support announced today that it has reached an agreement to acquire St. Thomas Jet Center located at Cyril E. King – Charlotte Amalie Airport (TIST/STT) in St. Thomas, United States Virgin Islands. The agreement also includes Alliance Aviation, Jet Set Rental Cars and Tri Island Energy Fuel Logistics.
This acquisition further expands Signature’s presence in the Caribbean. The agreement provides that the acquisition will occur in two phases – today Signature Flight Support has acquired a 49% holding and will acquire the remaining 51% of the business within 14 months.
St. Thomas Jet Center is comprised of an executive terminal, aircraft maintenance and storage hangar and a newly constructed fuel farm. The FBO has also recently been certified as U.S. Customs and Immigration clearance and pre-clearance facility and is one of the first if its kind in the Caribbean.
“We are especially pleased to welcome St. Thomas Jet Center to the Signature Flight Support global network. This agreement expands Signature’s growing presence in the Caribbean, a region where we have placed significant focus during the past few years. St. Thomas is a prime destination for our customers and complements our other locations in the region,” stated Mark Johnstone, Group Chief Executive Officer for BBA Aviation and CEO of Signature Flight Support. “The Hancocks have built a business based on exemplary, personal customer service which meshes very well with Signature’s Service Promise and customers will now receive Signature’s full portfolio of benefits.”
“Having received offers from other potential buyers, we decided that Signature Flight Support presented the best opportunity both for our customers and employees alike. Through its 200 plus FBO locations worldwide, together with its premier loyalty programs and the acquisition of Epic Fuels, we are proud to add St Thomas Jet Center to this premier global network,” stated Michael Hancock, President of St. Thomas Jet Center.
St. Thomas is the most visited and most populated of the US and British Virgin Islands and is a gateway for high net worth individuals with second homes or yachts based in the Virgin Islands. The Cyril King International Airport is one of the busiest airports for general aviation in the Eastern Caribbean. Its 7,000-ft. runway and ILS make it a perfect choice for air travelers going to St. Thomas, St. John, Jost Van Dyke, Tortola and Virgin Gorda.