18/08/2017 ATLANTIC AVIATION ENTERS INTO AGREEMENT TO ACQUIRE ORION JET CENTER

ATLANTIC AVIATION ENTERS INTO AGREEMENT TO ACQUIRE ORION JET CENTER
Atlantic Aviation announced that it has entered into an agreement to purchase the assets of Orion Jet Center at Miami-Opa Locka Executive Airport (OPF). Located just 11 miles north of downtown Miami, Florida, the acquisition extends Atlantic Aviation’s nationwide network into the rapidly growing South Florida general aviation market.

Orion Jet Center features over 200,000 square feet of newly constructed hangar space, the largest of which is capable of handling Global Express sized aircraft. The facility also includes 36,000 square feet of office and maintenance space.

The first-class executive terminal at Orion boasts three conference rooms, a crew lounge, showers and sleep rooms, and a VIP lounge all appointed in a modern, sleek Floridian décor. Orion and OPF provide easy access to the Miami Beach, Fort Lauderdale and Bal Harbor communities and the region’s many attractions.

“We are pleased to extend our presence in Florida south to the Greater Miami area and one of the fastest growing General Aviation markets in the US,” said Louis Pepper, chief executive officer of Atlantic Aviation. “The Orion facilities are first-class and the team there has a well-deserved reputation for outstanding service that we believe make this operation a great addition to Atlantic Aviation.”

“Through the hard work and dedication of our staff, Orion Jet Center has experienced unprecedented growth since opening in 2009,” said founder Leonard Abess. “Atlantic Aviation is well positioned to continue the success we have enjoyed. We look forward to our ongoing involvement in the transformation of the Airport as we develop the remainder of our Leasehold.”

Closing of the transaction is expected in the third quarter of 2017, subject to satisfaction of conditions including receipt of relevant government and regulatory approvals. Terms were not disclosed.