The Sterling Group, a middle market private equity firm based in Houston, Texas, has announced that its platform company, Lynx FBO Network, has completed the acquisition of the FBO assets of Fly Arkansas at Clinton National Airport in Little Rock, Arkansas, the company said.
Fly Arkansas retains the FBO at Boone County Airport and Aircraft Management and Charter. In August 2016, Sterling launched Lynx, a buy-and-build effort in the FBO industry, and is executing a plan to build a FBO network providing general aviation services. This marks their sixth acquisition since inception.
Sterling has assembled a strong and experienced team to build the network. Greg Elliott, a Partner at The Sterling Group, has been involved in building several FBO networks in the past fifteen years, including roles as the Chairman of Encore and Trajen, and Board member of Landmark Aviation. Chad Farischon, Tyson Goetz, and Matt DeLellis are former members of large networks including Trajen, Landmark Aviation and Atlantic Aviation. The management team purchased and integrated over 50 FBOs over the course of their careers.
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, distribution and industrial services companies. Typical enterprise values of these companies range from USD 100 million to USD 750 million. Sterling has sponsored the buyout of 52 platform companies and numerous add-on acquisitions for a total transaction value of over USD 10.0 billion. Currently, Sterling has over USD 2.2 billion of assets under management. For further information, visit www.sterling-group.com.