CHARLESTON, SC--(Marketwired - May 6, 2013) - Hawthorne Global Aviation Services ("Hawthorne") today announced the acquisition of the development rights from Sovereign Development Group, for a Fixed Based Operator (FBO) at Chicago Executive Airport. Hawthorne Global Aviation Services, headquartered in Charleston, SC, is a premier provider of general aviation services, with a rich history in the industry dating back to 1932.
Hawthorne plans to begin construction on the FBO at Chicago Executive Airport immediately, with plans for completion in 2014.
"The acquisition of the development rights for a new FBO at the Chicago Executive Airport establishes our presence in Chicago, a vibrant top three general aviation market. With this planned FBO, it broadens our geographic footprint of FBOs throughout the U.S. to now include the Midwest," said Steven Levesque, President and CEO of Hawthorne.
The planned FBO at Chicago Executive Airport further expands the Hawthorne network of FBOs across North America that includes FBOs at Lakefront Airport in New Orleans (KNEW) and at Long Island MacArthur Airport in Islip, NY (KISP).
Chicago Executive Airport is the fourth busiest airport in Illinois and plays a crucial role as a general aviation reliever for the region, which includes O'Hare International Airport. It includes three active runways and more than 412 acres. The airport is managed under the guidance of the Chicago Executive Airport Board of Directors, an advisory board of members from each municipality.
Moelis Capital Partners (MCP) and Hawthorne Corporation formed Hawthorne in 2010 to pursue an FBO acquisition strategy. MCP provides the company with strategic advice.
Jim Johnston, a Partner at MCP, said, "We are excited to add our third location to the Hawthorne platform, and we plan to continue expanding our network of FBOs across North America."
About Hawthorne Global Aviation Services
Hawthorne Global Aviation Services is a premier provider of general aviation services, with a rich history in the industry dating back to 1932. For more information, please visit. www.hawthorne.aero.
About Moelis Capital Partners
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners manages more than $800 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit www.moeliscapital.com.