Signature Flight Support has reached an agreement to acquire St. Thomas Jet Center located at Cyril E. King - Charlotte Amalie Airport 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, and will occur in two phases. Signature has initially acquired a 49 per cent holding and will add the remaining 51 per cent of the business within 14 months.
St. Thomas Jet Center is comprised of an executive terminal, an aircraft maintenance and storage hangar and a newly-constructed fuel farm. The FBO has recently been certified as a US Customs and Immigration clearance and pre-clearance facility and is one of the first if its kind in the Caribbean.
“This agreement expands our growing presence in the Caribbean, a region where we have placed significant focus during the past few years," says group CEO for BBA Aviation and Signature Mark Johnstone. "St. Thomas is a prime destination for our customers and complements our other locations in the region. The Hancock family has built a business based on exemplary, personal customer service which meshes very well with our service promise, and customers will now receive Signature's full portfolio of benefits.”
President of St. Thomas Jet Center Michael Hancock adds: “Having received offers from other potential buyers, we decided that Signature Flight Support presented the best opportunity both for our customers and employees. Through its 200 plus FBO locations worldwide, together with its premier loyalty programs and the acquisition of Epic Fuels, we are proud to be added to its premier global network."
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. Cyril King International airport is one of the busiest airports for general aviation in the eastern Caribbean and has a 7,000 ft runway.