Modern Aviation has signed a definitive purchase agreement to acquire 100 per cent of the membership interests in FW American Aero at Fort Worth Meacham International airport in Texas from an affiliate of Keystone Group.

CEO Mark Carmen says: "We are excited to have American Aero join the Modern Aviation family and expand our presence to the high growth DFW area. American Aero has distinguished itself among FBOs by being the first in the world to earn a Stage III IS-BAH safety and ground handling certificate. Safety is a critically important part of the Modern Aviation culture and all of our other locations have now achieved either a Stage I or II certificate."

American Aero operates on a 31 acre FBO campus with 247,000sq ft of hangar and office space, and the largest open ramp on the field of more than 11 acres. Its 8,600 sq ft FBO was designed to maximise safety, efficiency and comfort for flight crews and passengers.

A Keystone Group representative says: "We are proud to have built a world-class FBO in Fort Worth, Texas over the last 12 years. We believe Modern Aviation is the perfect owner to continue its success and growth."

Carmen continues: "Adding American Aero to the Modern Aviation platform will enable us to continue expanding our network, benefitting our customers and employees. All of the employees of American Aero will remain with Modern Aviation post-acquisition, and we look forward to welcoming our new colleagues and customers to the Modern Aviation family."

Modern Aviation expects the transaction to close in the current calendar quarter.