Igneo Infrastructure Partners (Igneo), a global infrastructure investment manager with US$20.5 billion in assets under management, announced it has acquired Infinity Aviation Group (Infinity Aviation), a fixed based operator (FBO) platform based in Nashua, New Hampshire. As part of the transaction, Igneo has acquired a portfolio of on-airport assets at Boire Field in Nashua (KASH), a public-use general aviation airport located 50 miles from downtown Boston. The assets include hangarage, line services, and fueling operations at the airfield.
Infinity Aviation provides infrastructure and essential aviation services for general aviation, business, and air cargo customers in the United States. Under Igneo’s ownership the company will seek to acquire, improve and develop high-quality general aviation infrastructure including FBOs and aircraft hangars.
Infinity Aviation will be led by Steven Levesque as its new chief executive officer. Before joining Infinity Aviation, Levesque was principal of Global Aviation Infrastructure LLC, which provides management and advisory services for corporations, airport sponsors, private equity firms and institutions. Levesque has extensive experience in the general aviation industry, having previously served as president and CEO of both Leading Edge Jet Centers (now SkyService US) and Hawthorne Global Aviation Services, where he led the development and acquisition of approximately 17 million gallons of aggregate fuel volume per annum and 2 million square feet of hangarage. He was also a commanding officer in the U.S. Navy Reserve, retiring with over 25 years active and reserve service.
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“The U.S. general aviation market is experiencing strong growth, and we plan to leverage Igneo’s vast global experience investing in high-quality middle-market transportation infrastructure through a differentiated platform,” said John Ma, partner and co-head of Igneo in North America. “Infinity Aviation has significant growth prospects, and we look forward to building out the business in partnership with Steven. We believe that there is a strong opportunity for high-quality platform businesses such as Infinity Aviation given the growth of the general aviation market.”
SOURCE: PRNeswire