Expanding US FBO network Modern Aviation has closed its acquisition of Hill Aviation, which includes FBO and MRO operations at Fernando Luis Ribas Dominicci airport (Isla Grande airport) in San Juan, Puerto Rico and a satellite FBO operation at Jose Aponte de la Torre airport in Ceiba, Puerto Rico. The San Juan and Ceiba locations, purchased from Tommy Hill and VRM Companies, will be rebranded Modern Aviation Puerto Rico. Propilot's aircraft management and charter business will remain based at Isla Grande airport.

The company signed a definitive agreement for the purchase at the end of October this year, around the same time as it also agreed to acquire the operations and facilities underlying Sheltair’s five New York FBOs at LaGuardia, JFK, Westhampton, Republic/Farmingdale and Long Island MacArthur airports.

Hill Aviation operates the sole FBO at Isla Grande airport where it offers more than 91,000 sq ft of hangar and office space. Modern Aviation CEO Mark Carmen says: “We are very excited about closing the acquisition of Hill Aviation, our second acquisition this year. Isla Grande airport is a high growth location that offers significant advantages compared to other regional airports. The FBO's location offers quicker access to and from the main roads in San Juan, and customers can directly access their aircraft on the ramp unlike at comparable airports in San Juan.”

He goes on to say: “San Juan is a highly attractive, growing general aviation market, and we plan to further develop Hill Aviation's leasehold by building additional hangars. Additionally, we look forward to providing industry best practices through Hill Aviation's team of dedicated employees to benefit all stakeholders at Isla Grande airport.”

Modern Aviation enjoys an excellent reputation with the airport authorities at each of its locations and is pursuing a growth strategy of investing in its existing locations and acquiring new premium FBO locations.

“Hill Aviation, which has been operating at Isla Grande airport for more than 30 years, has delivered outstanding customer service through our exceptional team of employees,” says Hill Aviation CEO Tommy Hill. “Modern Aviation is well positioned to build on our success at Isla Grande and to further develop the business to reach its full potential. I look forward to working with Modern Aviation to continue to provide a base of operation for our Propilot business and customers. We are confident that Modern will provide a great home for our Hill Aviation team members and our loyal customers.”

“We are pleased to have been a part of such a successful growth story, and we are proud of and grateful to Tommy and the team for being great partners in delivering this outcome,” adds VRM Companies private equity managing partner Carlos Penzini.