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BBA Aviation Buys Fuel Services Partner EPIC Fuels For $88.1 Mln

BBA Aviation plc (BBA.L) , a provider of global aviation support and aftermarket services, announced Wednesday the acquisition of EPIC Aviation LLC, doing business as EPIC Fuels for a cash consideration of $88.1 million. BBA Aviation noted that EPIC is its existing Signature fuel card partner.

EPIC Fuels is a supplier of fuel and fuel related services to 205 privately owned independent FBO network. Of these, 185 locations are branded EPIC and 20 are branded UVAir.

EPIC is expected to contribute revenue of around $400 million in the first full year of ownership.

The acquisition is subject to certain governmental and regulatory approvals and we expect to complete in Q3 2018.

The deal allows Signature to have full end-to-end management of the existing SFS EPIC fuel card programme, associated transaction processing and data capture as a platform for an enhanced service offering across our entire network.

The company will also acquire EPIC's proprietary QTPod technology for self-fuelling AvGas services. QTPod has potential to expand its footprint in the aviation industry with a new proprietary and cloud based self-serve fuelling terminal.

BBA Aviation will publish its interim results for the half year ended 30 June 2018 on August 1.

by RTTNews Staff Writer

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