Igneo Infrastructure Partners (a global infrastructure investment manager with $20.5 billion in assets under management) announced it has acquired Infinity Aviation Group, a fixed-based operator (FBO) platform based in Nashua, New Hampshire. As part of the deal, Igneo has acquired a portfolio of on-airport assets at Boire Field in Nashua (KASH), a public-use general aviation airport located 50 miles from downtown Boston. The assets include hangarage, line services, and fueling operations at the airfield. The transaction terms were not disclosed.
Infinity Aviation offers infrastructure and essential aviation services for general aviation, business, and air cargo customers in the US. And under Igneo’s ownership, the company will seek to acquire, improve, and develop high-quality general aviation infrastructure, including FBOs and aircraft hangars.
Steven Levesque will head Infinity Aviation as its new Chief Executive Officer. Before joining Infinity Aviation, Levesque was principal of Global Aviation Infrastructure, which offers management and advisory services for corporations, airport sponsors, private equity firms, and institutions. And Levesque has extensive experience in the general aviation industry, having previously served as president and CEO of both Leading Edge Jet Centers (now SkyService US) and Hawthorne Global Aviation Services, where he led the development and acquisition of approximately 17 million gallons of aggregate fuel volume per annum and 2 million square feet of hangarage. Plus, he was also a commanding officer in the U.S. Navy Reserve, retiring with over 25 years active and reserve service.
Infinity Aviation represented Igneo’s first investment in the North American aviation sector, its sixth platform investment in North America, its eighth global investment in transportation and logistics, and its first investment from Igneo’s dedicated North American infrastructure strategy. Since 2020, Igneo has invested approximately $3.9 billion of capital in the United States across the transportation, energy, and digital infrastructure sectors.
Advisor: Igneo was advised by A&O Shearman on the transaction.
KEY QUOTES:
“The U.S. general aviation market is experiencing strong growth, and we plan to leverage Igneo’s vast global experience investing in high-quality middle-market transportation infrastructure through a differentiated platform. Infinity Aviation has significant growth prospects, and we look forward to building out the business in partnership with Steven. We believe that there is a strong opportunity for high-quality platform businesses such as Infinity Aviation given the growth of the general aviation market.”
John Ma, partner and co-head of Igneo in North America
“We are thrilled to partner with Igneo to support our strategic goals, including investment in and expansion of the Infinity Aviation platform, as we look to build an industry-leading general aviation services business.”
Steven Levesque
“I am honored and excited to be joining Infinity Aviation’s board with the Igneo Infrastructure Partners team to help drive growth, support airport communities, and create value as we meet the growing needs of private aviation.”
Mark Perryman, an independent board member and president and CEO of Norfolk Airport Authority and former CEO of Landrum & Brown
