Category Archives: Acquisition News

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Acquisition News – AFCO Inc & AvPorts

Acquisition News

Dulles, VA. – May 24, 2018 – Aviation Facilities Company, Inc. (“AFCO”) and AFCO AvPorts Management LLC (“AvPorts”), both industry leaders in the development and management of airports and airport infrastructure, announced they have entered into a definitive agreement to be acquired by West Street Infrastructure Partners III (“WSIP III”), a family of infrastructure investment funds managed by the Merchant Banking Division of The Goldman Sachs Group, Inc. (“Goldman Sachs”). The transaction transfers ownership from a diversified base of investors to WSIP III. Full Press Release in PDF Format here.
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AFCO Acquires Air Cargo Facility at Mather Airport

AFCO Acquires Air Cargo Facility

Dulles, VA., (February 21, 2017) – Aviation Facilities Company, Inc. (AFCO) completed the purchase of an air cargo facility at Mather Airport (MHR) in Sacramento, California from GE Capital Aviation Services. The MHR facility is situated on a 4.5-acre site with direct ramp access and includes 33,300 square feet of air cargo warehouse and office space that is fully leased to UPS Supply Chain Solutions (UPS SCS). “The acquisition of the MHR facility reflects our strategy of acquiring on-airport assets with credit quality tenants like UPS SCS,” said Chuck Stipancic, President & CEO of AFCO. The MHR facility is used by UPS SCS to support its regional and local trucking operation and for UPS aircraft that operate at the airport.  MHR is owned and operated by the County of Sacramento and is part of the Sacramento County Airport System. “We are delighted to expand our relationship with UPS SCS and we look forward to working with the County to...

AFCO/Quantem FBO Services Acquires Metro Flight Services FBO at Detroit Metropolitan Airport

AFCO and Quantem News

AFCO and Quantem FBO Services, LLC, through a joint venture, recently acquired the Metro Flight Services (Metro Flight) fixed base operation (FBO) that offers fueling, ground handling, passenger services, maintenance and various other services at the Detroit Metropolitan Airport (DTW) in Detroit, Michigan. The deal represents the second FBO acquired by the AFCO/QFS joint venture following on from the acquisition of Byerly Aviation in Peoria, Illinois in February 2005. Metro Flight began operations in October 2002. The facility includes 30,000 square feet of hangar and 10,000 square feet of office and customer support space.  Possession of the facility by AFCO/QFS occurred on November 6th. The terms of the acquisition were not disclosed.   About: AFCO is a recognized leader in the development, management and operation of airports and airport infrastructure.  With broad capabilities and deep experience, AFCO provides an unparalleled level of service and value to its clients including airports, municipalities, commercial and cargo airlines, freight forwarders and a wide variety of...

AFCO Acquires Land Near New Terminal at Indianapolis International Airport

AFCO Acquires Land

AFCO has completed the acquisition of 47.1 acres near the new airport entrance at Indianapolis International Airport. The new terminal is expected to open at the end of 2008. The $5 million acquisition was completed by a joint venture between AFCO and Airport Parking Management (APM), who previously teamed with AFCO for the development of parking facilities at Midway Chicago Airport. The land may be used for the development of warehouse distribution and logistics facilities, and other transportation related infrastructures. Jim Norris, AFCO Vice President, Development, negotiated the terms of this acquisition.  

AFCO is a recognized leader in the development, management and operation of airports and airport infrastructure.  With broad capabilities and deep experience, AFCO provides an unparalleled level of service and value to its clients including airports, municipalities, commercial and cargo airlines, freight forwarders and a wide variety of other airport users.

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AFCO Acquires American Flight Services FBO, Reading, Pennsylvania

AFCO Acquires American Flight Services

AFCO acquired the American Flight Services (AFS) fixed base operation at the Reading Regional Airport in Reading, Pennsylvania from Mr. James Dastra and his partners, for an undisclosed sum on October 12, 2006. The deal represents the second FBO for AFCO following their recent acquisition of Byerly Aviation in Peoria, Illinois.  Frank Chambers, Chief Executive Officer and Founder of AFCO said, “We are delighted to have concluded the purchase of AFS, which is consistent with our strategy and goal to further diversify our business base with the direct ownership of FBO’s." AFCO intends to grow and develop the services offered by AFS and invest in the people and infrastructure.

About - AFCO is a recognized leader in the development, management and operation of airports and airport infrastructure.  With broad capabilities and deep experience, AFCO provides an unparalleled level of service and value to its clients including airports, municipalities, commercial and cargo airlines, freight forwarders and a wide variety...

AFCO Acquires Air Cargo Facilities in Austin, Texas

AFCO Acquires Air Cargo Facilities in Austin

AFCO has completed the purchase of three facilities at Austin-Bergstrom International Airport from Austin BellyPort Development LLC. Two air freight warehouse facilities total 57,000 square feet with ramp access, vehicular parking, and ground equipment storage. The opportunity exists for a total warehouse expansion of 30,000 square feet. The third building is a 7,200 square-foot ground support equipment (GSE) maintenance facility. All of the buildings have tug road access to the aircraft apron. Land is available to construct an additional 30,000-40,000 square-foot building. All three facilities are fully leased. Tenants include American Airlines, Continental Airlines, Delta Airlines, Signature Flight Support, Southwest Airlines and the City of Austin Department of Aviation....

AFCO Acquires Air Cargo Facilities in Bakersfield, California and Hartford, Connecticut

AFCO Acquires Air Cargo Facilities

AFCO announced today that it has completed the purchase of three air cargo facilities at Meadows Field (BFL) in Bakersfield, CA and Bradley International Airport (BDL) in Hartford, CT. The BFL facility includes 11,000 s.f. of warehouse space fully leased by Airborne Express. AFCO plans to expand the existing facility at BFL to accommodate additional aviation industry tenants. The facilities at BDL include two air cargo buildings totaling 86,000 s.f. of warehouse space and 486,000 s.f. of aircraft apron, fully leased to Airborne Express, Airport Group International (AGI), BAX Global, Federal Express and TransCaribbean. The land is available at the BDL site for the development of an additional 40,000-50,000 s.f. facility. Passenger and cargo traffic at Bradley are increasing at phenomenal rates due to the booming economy of central New England and Bradley’s strategic position, midway between Boston and New York City. AFCO is very pleased to become part of the cargo teams at both Bradley and Meadows...

AFCO Begins Construction of Midfield Cargo Complex at Baltimore-Washington International Airport

AFCO Begins Construction of Midfield Cargo Complex

On February 29, 2000, construction began on the 60,000 s.f. cargo building, 330,000 s.f. of aircraft ramp/apron and approximately 55,000 s.f. of associated truck/auto parking of the first phase of the Midfield Cargo Complex (MCC) at Baltimore/Washington International (BWI) Airport. Construction is scheduled to be completed at the beginning of 2001. Tenants of the new first-phase air cargo facility are expected to include BAX Global, Airborne Express, and Signature Flight Support. Construction of additional cargo facilities in Phase II of the MCC area is expected to commence during the fourth quarter of 2001 with a completion date during the third quarter of 2002. When fully developed the MCC may include as much as 358,000 s.f. of handling facilities, 808,000 s.f. of an apron and additional truck, car and equipment parking. AFCO has operated Cargo Building E at BWI since 1995 and acquired Cargo Buildings B, C, and F in August 1999. Frank Chambers, President, and CEO of...

AFCO Acquires Ground Lease to Develop Air Cargo Facility at Richmond International Airport

AFCO Acquires Ground Lease to Develop Air Cargo Facility

AFCO received approval from the Capital Region Airport Commission on AFCO’s purchase of rights to a 30-year ground lease from another developer at Richmond International Airport (RIC), Virginia. AFCO will develop a 51,000 square-foot air cargo facility in Cargo Area 6 of the Airport. The cross-dock air-freight trucking facility will include 41,000 square feet of cargo handling warehouse and 10,000 square feet of office space with tug road access to the apron. Construction will be completed in July 2000. The facility is 60% pre-leased to BAX Global and HBI Priority Freight. The project was financed with Special Transportation Facility Industrial Revenue Bonds....

AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma International Airport

AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma

AFCO completed the acquisition of a 35,000 square-foot air cargo facility at Seattle-Tacoma International Airport (Sea-Tac) from Ray Balanos Properties. The facility was built in 1998 and includes 25,000 square feet of warehouse space, 10,000 square feet of office space and 57,000 square feet of landside parking and loading area. It is 100% leased by Airgo Freight, Inc., Golden Globe Transport, and Petro Card Pacific Express. AFCO previously acquired two cargo facilities at Sea-Tac in 1995 and a third cargo facility in March 1999. With the purchase of this 4th facility AFCO now owns and operates 152,000 square feet of warehouse and office space and 193,000 square feet of apron space at the Airport....