Apollo-managed infrastructure funds have agreed to acquire a majority stake in Modern Aviation, a fixed-base operator (FBO) platform, from Tiger Infrastructure Partners. Financial terms were not disclosed.
Modern Aviation serves business and general aviation, as well as commercial, cargo and military aircraft at airports across North America. Founded in 2018, Modern Aviation has grown to become one of the preeminent national networks of premium FBO properties. The company operates a strategically curated portfolio of 16 sites and serves a diversified customer base across various aviation segments.
Tiger Infrastructure Partners and Modern Aviation’s management team both will reinvest alongside the Apollo Funds as part of the transaction. These investments will significantly bolster Modern Aviation’s shareholder base to support future strategic growth initiatives.
The acquisition marks the latest investment for Apollo’s growing infrastructure franchise. The