TWG, Vitesse Reach Purchase Agreement
TWG Aviation is buying the FBO, charter and maintenance portions of Vitesse Aviation Services at Dallas Love Field as part of a deal that should see both companies grow. TWG, which operates Business Jet Access and Business Jet Center, wants to beef up its Dallas operations, and the acquisition of Vitesse's business and the 7.5 acres of buildings and ramp space it occupies will accomplish that. "By entering into this agreement with Vitesse Aviation Services, we are in position to expand our infrastructure, increase our service capacity and posture our company for future growth," said TWG spokesman Mike Wright. The acquisition is also a chance for Vitesse to concentrate resources on a successful landing gear, machining and component business.
"A condition of the sale will be the relocation of our repair, overhaul and component business to a larger, expanded facility near our present Love Field location, where we will continue to serve the needs of our private and commercial aviation clients," said spokesman David Peaper. "We believe the transaction will be very positive for Vitesse and TWG, and we are pleased to have been able to reach this accord." The deal is expected to take about 120 days to complete.