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Press release content from Business Wire. The AP news staff was not involved in its creation.

BTR Jet Center to Acquire Executive Aviation

May 24, 2019

BATON ROUGE, La.--(BUSINESS WIRE)--May 24, 2019--

The Baton Rouge Jet Center (BTR Jet) will acquire Executive Aviation (EA) this summer to expand its first-class, fixed-base operator (FBO) facilities at the Baton Rouge Metro Airport. Following the merger, BTR Jet expects to make a capital investment of $3 million in the construction of a new, state-of-the-art FBO operations facility and three new hangars. The new FBO will be approximately 5,000 square feet, and the hangars are projected to include 45,000 square feet of hangar space with high doors to accommodate larger jets than can currently be housed in Baton Rouge. BTR Jet will acquire EA through an asset purchase.

The construction, which is estimated to be completed in approximately one year, will allow BTR Jet to relocate its operations to the EA site, while retaining some operations at its current facility. The completion of this project will result in the Baton Rouge Metro Airport having a first-class FBO facility that will rival the finest airports in the country.

Brett Furr, President of BTR Jet, said, “In a little over three years, BTR Jet has grown to be the number one FBO on the field. We have achieved this through concierge service at fair prices. We have rapidly outgrown our facilities and have much need for expansion. This opportunity will allow BTR Jet to continue to expand. It is also a great fit since the owners of BTR Jet and Executive share common values. When completed, our new facilities will be among the finest in the country and will distinguish Baton Rouge in a very positive manner. The customer base for BTR Jet and EA should anticipate a smooth transition once the merger has begun.”

John Schempf, President of the Newtron Group, the parent company of Executive Aviation, said, “BTR Jet was looking to expand its footprint and The Newtron Group was looking to focus on its core construction business. This opportunity was truly a positive for both buyer and seller. The fact that we know the ownership team of BTR Jet and are familiar with their operational values and beliefs helped us feel comfortable that the long-term employees of Executive Aviation would be in great hands with BTR Jet. That really helped to close this deal.”

About Baton Rouge Jet Center (BTR Jet)

Since opening on September 25, 2015, BTR Jet has become the top FBO in the field in the number of aviation gallons sold to general aviation customers. BTR Jet has also created 9 new jobs. It prides itself in providing the highest level of service at the most favorable price. BTR Jet obtained Corporate Aviation Association certification driving substantial general aviation traffic to Baton Rouge.

About Executive Aviation

Founded in 1973 by Newton Thomas, Executive Aviation is the oldest FBO at the Baton Rouge Metro Airport. It has a solid customer base of long-standing tenants and an outstanding staff.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190524005055/en/

CONTACT: Lindsey Shemroske, 985-807-4124

lindsey@covalentlogic.com

KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA

INDUSTRY KEYWORD: TRANSPORT AIR CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE

SOURCE: Baton Rouge Jet Center

Copyright Business Wire 2019.

PUB: 05/24/2019 06:00 AM/DISC: 05/24/2019 06:00 AM

http://www.businesswire.com/news/home/20190524005055/en

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