Swiss-based Jet Aviation Group said last week it had completed the acquisition process for its purchase of U.S.-based Midcoast Aviation from the Sabreliner Corporation. Terms of the acquisition, which was first formally announced in January and finalized on March 20, were not disclosed. Midcoast Aviation is a well-known and well-respected full-service corporate jet aircraft maintenance, modification and completion provider employing some 875 professionals. It has operations at St. Louis Downtown Airport and Lambert-St. Louis International Airport, both in the St. Louis, Mo., area. The company specializes in service and support for top-tier aircraft and is an authorized service center/facility for Dassault Falcon Jet, Raytheon Corporate Jets and Bombardier Aerospace. Jet Aviation and Midcoast Aviation strategically complement one another and as a group we will now also become a major provider of completions, modification and maintenance services in North America, said Heinz Khli, CEO of Jet Aviation Group. We are pleased that this deal has been finalized and will continue working with our majority shareholder, Permira Funds, toward additional global expansion.
The Midcoast acquisition is a win-win for both companies, greatly enhancing Jet Aviations presence in North America and raising Midcoasts profile internationally, said Theo Staub, president and COO of Jet Aviation North America. More importantly, our clients will benefit from the harmonious combination of our expert skills and shared commitment to providing exceptional service. The resources of Jet Aviation Group will continue to support Midcoast growth, just as Sabreliner has for more than a decade. Our company has aggressive expansion plans to meet the growing demand for top-tier business aircraft maintenance, modification and completions services, added Kurt Sutterer, president of Midcoast Aviation. We look forward to expanding our reach with the Jet Aviation Group. Midcoast retains its name with the addition of A Jet Aviation Company, and continues to operate with a consistent team in place under the leadership of Sutterer, who now reports directly to Staub.
