QIC has closed a debt financing facility for APP Jet Center (APP), a portfolio company of Ridgewood Infrastructure. Financial terms were not disclosed.
APP serves corporate and private air clients in five major U.S. markets, including the Washington, D.C., metropolitan area, the San Francisco Bay Area, Denver, and Fort Pierce and Stuart in south Florida.
The company owns fixed-based operations (FBOs), which provide storage, fueling and related essential services to general aviation (noncommercial and nonmilitary) aircraft. APP has more than 910,000 square feet of hangar and office space, as well as 7 million gallons of fuel sales annually across its five operating locations.
QIC’s private debt infrastructure team acted as the sole arranger in this transaction. Facility proceeds will be used to fund APP’s continued expansion to meet growing customer demand at its current locations, including the acquisition of existing hangars and the construction of multiple
