Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Carlyle Group To Buy Landmark Aviation: Reports

RELATED NEWS
Trade CG now with 

Private equity firm Carlyle Group LP (CG: Quote) will buy Landmark Aviation from GTCR Golder Rauner and Platform Partners for $625 million, according to reports. Landmark Aviation operates one of the largest fixed based operation networks in the world, with 51 locations throughout the United States, Canada and France.

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2012. Terms of the transaction were not disclosed.

Equity capital for the transaction will come from Carlyle Partners V, a buyout fund, Carlyle Group said in a statement. Morgan Stanley, RBC Capital Markets and Barclays have agreed to provide debt financing for the deal.

For Carlyle, this will mark the second time it has owned Landmark. The Washington D.C.-based formed the company in 2004 when it combined three businesses: Garrett Aviation Services, Piedmont Hawthorne and Associated Air Center. The firm sold Landmark in 2007 to aircraft leasing and maintenance company Dubai Aerospace Enterprise in a deal valued at $766 million.

GTCR and co-investor Platform Partners LLC acquired the company for $435 million from Dubai Aerospace Enterprise, with GTCR investing out of its ninth fund, a $2.75 billion vehicle raised in 2006.

Carlyle Group shares closed up 1.12% at $27.02 on Friday on the Nasdaq.

Register
To receive FREE breaking news email alerts for The Carlyle Group L.P. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.