TWG Aviation LTD, a provider of corporate aviation services under the trade names of Business Jet Access (BJA) and Business Jet Center (BJC), has entered into an asset purchase agreement with Vitesse Aviation Services. Under the agreement, TWG will acquire the lease-hold improvements of the current Vitesse Aviation Services location at Dallas Love Field which is comprised of 7.5 acres with two existing hangars. Vitesse has operated a FBO, as well as an aircraft maintenance and charter business, at the present location for the past four years.
TWG plans to absorb the Vitesse aircraft maintenance, aircraft charter and management, and FBO fueling business into its current operations. Vitesse will retain its FAR Part 145 certificate and move the landing gear, component and machining business to a facility near Love Field where it will continue to provide private and commercial carrier repairs.
“As we look to the future, opportunities arise which allow us to strategically expand our operations at Love Field,” said Mike Wright, a partner in TWG. “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.”
“The sale to TWG Aviation LTD of the Vitesse FBO business will facilitate the growth of our Repair, Overhaul and Component (ROC) business and is an enhancement of the parent company core businesses,” said David Peaper, VP and general manager of Vitesse Aviation Services, Dallas. “A condition of the sale will be the relocation of our ROC 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. We believe the transaction will be very positive for Vitesse and TWG and we are pleased to have been able to reach this accord.”
According to Wright, TWG and Vitesse Aviation will now enter into the Due Diligence stage with closing anticipated within the next 120 days.
