Sheltair Aviation Announces Additional Financial Resources - Syndicated Credit Facility Increased
FORT LAUDERDALE, FL. (July 15, 2015) - Sheltair Aviation, a leading aviation company operating 16 Fixed Base Operations (FBO’s) and managing over three million square feet of aviation related properties at 22 airports in Florida, Georgia and New York, closed with SunTrust Bank on a $260 million credit facility on July 15, 2015. The proceeds of the credit facility will provide additional capital for the continued expansion of Sheltair’s existing bases, future acquisitions and strategic alliances. Sheltair Aviation is privately owned, headquartered in Fort Lauderdale, Florida and employs almost 400 people across its various locations.
Sheltair Aviation CEO Jerry Holland stated, “This is a significant accomplishment for our company. The facility provides the financial resources under the optimal capital structure necessary to pursue our strategic plans for our growing network of bases.”
SunTrust Bank, as Agent and SunTrust Robinson Humphrey as sole Lead Arranger, coordinated the financing with eight participant banks.
Sheltair Aviation was represented by Damaso Saavedra of Saavedra | Goodwin, Fort Lauderdale, FL while Lenders were represented by Moore & Van Allen, PLLC, Charlotte, NC.
Warren Kroeppel, Chief Operating Officer for Sheltair Aviation said, “The lender group came together with the Sheltair Aviation team to design a facility that meets the needs of all parties. These banks have been supportive of the company for many years. Scott Holloway, our Senior VP of Capital Solutions, has been instrumental in developing these relationships for the Company over the past twelve years. We truly appreciate the long-term partnership we have enjoyed with our lenders and their confidence in the Sheltair team.”
About Sheltair Aviation
Headquartered in Fort Lauderdale, Florida, Sheltair Aviation is a privately-owned aviation development company serving the growing general aviation (“GA”) market with a comprehensive solution set including airport development, rental of hangar and office space, and the operations of FBOs. Sheltair differentiates itself from competitors by its strong construction, aviation real estate development, leasing property, and management expertise along with its exceptional safety and customer service reputation. Please visit www.sheltairaviation.com and follow us on twitter.
New York State Aviation Jobs Act spurs million dollar investment by Sheltair into their Republic Airport, Long Island facility
(E. Farmingdale, N.Y.) Warren Kroeppel, Sheltair’s Chief Operating Officer, today announced that work is underway on upgrading their 66,000 square foot hangar that dominates Republic Airport (FRG), East Farmingdale, Long Island to ensure that it can continue to meet the needs of 21st Century general aviation and in recognition that the recently passed New York State Aviation Jobs Act will bring new economic growth opportunities at the state owned airport and at other Sheltair facilities throughout New York.
“While the hangar is a marvelous historic landmark, its infrastructure has been continuously upgraded to ensure our customers and tenants get the support their aviation assets require,” stated Kroeppel. “This latest investment reflects a $1,000,000 commitment by Sheltair to ensure the electrical service meets our needs, the passenger lobby offers 21st Century design and amenities, the ramp is maintained, including a new drainage system and the building’s roof remains weather tight under any conditions.”
The Sheltair executive explained that while Sheltair is constantly reinvesting in its infrastructure across the country the Republic facility became a priority in the wake of Governor Andrew Cuomo signing The Aviation Jobs Act which dramatically reduces taxes on aviation related sales and maintenance in New York, the nation’s gateway for international air travel.
Kroeppel stated, “Our significant investment is a reflection of the commitment we made to state lawmakers and this Governor that if the jobs act was passed we would reaffirm our confidence in New York as a place to do business by strengthening our roots. Our Republic renovations are just part of that pledge and we are now poised to take advantage of the benefits this legislation will offer our industry.” The New York State Aviation Jobs Act allows the state to confront the poaching of aviation related business by neighboring regions by reducing taxes and levies on aircraft sales and maintenance. As a result the aviation community will significantly benefit from the ability to reduce the cost of doing business in New York.
Sheltair has grown its already significant footprint in New York with major operations at JFK and LaGuardia and is expanding in other states experiencing a significant expansion in their economies including Florida and Georgia.
Sheltair, a privately-owned aviation development company, operates 16 premier FBOs and manages over three million square feet of aviation related properties throughout Florida, Georgia and New York. Sheltair services include fueling, ground handling, hangar and office leasing and turn-key design/build of aviation properties. Please visit www.sheltairaviation.com and follow us on twitter.
Jet Aviation Signs Exclusive Preferred Partner FBO Alliance Agreement with Sheltair
TETERBORO, N.J. / June 24, 2015 – Jet Aviation has signed a preferred partner Fixed Base Operation (FBO) alliance with Sheltair designed to offer clients using U.S. locations an enhanced customer experience.
Jet Aviation and Sheltair, two leading FBO providers in the Americas, are launching a preferred partner alliance that will offer advantages to customers across its FBO networks in the U.S. The alliance will heighten the FBO experience through favored hospitality services, personalized interactions and additional rewards programs. The companies are working together to share best practices and leverage combined purchasing power. The program marks a shared philosophy of superior service, management excellence and an uncompromising commitment to safety, and will provide customers with a better travel experience through a joint market offering.
“We are excited to be partnering with an outstanding organization such as Jet Aviation,” noted Danny Walsh, senior vice president, FBO Operations, Sheltair. “Their legacy of success in the service business is one with which we are proud to be associated, and we look forward to offering our customers consistent service excellence and exceptional value through our shared best practices.”
“Jet Aviation has always been committed to service excellence, and an alliance with another leading FBO provider complements our efforts,” said John Langevin, vice president, FBO operations, North America, Jet Aviation. “We are delighted to partner with Sheltair to serve our clients with reciprocal privileges while providing the highest standard in the FBO industry.”
Sheltair is a privately-owned aviation development company, and operates 16 premier FBOs in North America and manages over three million square feet of aviation related properties at 22 airports throughout Florida, Georgia and New York. Sheltair services include fueling, VIP handling, general aviation and commercial ground support, hangar and office leasing and turn-key design/build of aviation properties. Please visit www.sheltairaviation.com and follow us on twitter.
Jet Aviation, a wholly owned subsidiary of General Dynamics (NYSE: GD), was founded in Switzerland in 1967 and is one of the leading business aviation services companies in the world. Close to 4,500 employees cater to client needs from more than 25 airport facilities throughout Europe, the Middle East, Asia and North and South America. The company provides maintenance, completions and refurbishment, engineering, FBO and fuel services, along with aircraft management, charter services, aircraft sales and personnel services. Jet Aviation's European and U.S. aircraft management and charter divisions jointly operate a fleet of more than 250 aircraft. Please visit www.jetaviation.com and follow us on twitter.