Bain Capital has entered the fixed-base operator (FBO) sector with the acquisition of APP Jet Center, a provider of aviation services at high-quality, supply-constrained airports in the United States. The five-location platform was acquired from Ridgewood Infrastructure, with financial terms not disclosed.
Mark Johnstone, the former CEO of Signature Aviation, will lead the business. APP Jet Center operates across five U.S. locations serving business and general aviation customers, with markets that include South Florida, the Washington, D.C. region, the San Francisco Bay Area, and Denver. The platform provides aviation real estate and related services, including aircraft hangar space and fueling.
Bain Capital said it plans to expand APP’s footprint with additional assets in supply-constrained markets and to invest across the existing network to support growing demand for aircraft hangar storage. The firm pointed to long-term growth in private and business aviation flight activity, modernization of aircraft requiring upgraded hangar infrastructure, and airport environments that limit new development as factors supporting demand for FBO services.
The investment builds on Bain Capital’s history of investing across the aviation industry, including aircraft leasing, aviation services, and transportation-adjacent businesses. DLA Piper, led by Drew Rosenberry and Neil K. Vohra, served as legal advisor to Bain Capital.
KEY QUOTES
“APP Jet Center is a strong starting point for our FBO strategy, as the business operates at attractive, capacity-constrained airports and has built long-standing relationships with airport authorities and customers.”
“We see an opportunity to support the growth of the platform through continued investment in facilities, operations, and leadership, applying the same disciplined, active ownership approach that has guided our work across other operationally intensive real estate sectors.”
Chris Leddy, Managing Director, Bain Capital Real Estate
“I am truly excited by the acquisition of APP Jet Center and see this as a tremendous foundation for our new FBO journey.”
“We will focus on our employees, customers, and safety as we build on the great work of the APP Jet Center team. Looking ahead, we plan to thoughtfully expand our presence in core markets and to support the long-term structural growth of private and business aviation.”
Mark Johnstone, Former CEO of Signature Aviation; Incoming Leader, APP Jet Center
“We continue to believe that aviation is a space that will benefit from outsized growth and can create durable value across market cycles.”
Matt Evans, Partner, Bain Capital Special Situations
