US FBO chain Hawthorne Global Aviation Services has been acquired by global alternative investment manager Wafra and infrastructure investment company NOVA Infrastructure.

The FBO operator has six locations, including four sole-source locations and three within top 10 metropolitan areas. Funds managed by Wafra and NOVA acquired Hawthorne from Moelis Capital Partners, which had owned Hawthorne since 2011.

With locations in New York, Chicago and Atlanta as well as in Wisconsin, Alabama and Iowa, Hawthorne is positioned to capitalise on tailwinds in corporate and general aviation traffic across North America. Hawthorne's locations collectively offer a range of essential services including fuelling, hangaring and other ancillary services.

“We believe Hawthorne's existing locations form a leading, multi-region FBO network, and with NOVA and Wafra's support, we look forward to expanding our footprint to serve a greater portion of the aviation industry,” says Hawthorne CEO Chuck Kegley.

NOVA managing partner and founder Chris Beall adds: “We are excited to partner with the Hawthorne and Wafra teams to build a first-class aviation platform. We think the management team and assets are well-suited for this purpose and are excited to support this growing middle market company.”

“Hawthorne has a history of strong operational performance and this investment represents an opportunity for organic and strategic growth in the fragmented market of FBOs," says Wafra chief investment officer Adel Alderbas. "Together with NOVA, we look forward to seeing Hawthorne expand its reach, realising its potential as a leading platform of FBO assets.”