US aviation group Wheels Up Experience has reached agreement to acquire UK-based broker Air Partner for about $107 million. The acquisition is expected to close later in the first quarter subject to shareholder and regulatory approvals.
Founded in 1961, Air Partner provides freight charter, private jet, group and aviation safety and security solutions to industry, commerce, governments and private individuals. Wheels Up is the leading provider of on demand private aviation in the US and one of the largest private aviation companies in the world.
Buying Air Partner will allow Wheels Up to expand its service offerings internationally, said the company. Chairman and chief executive Kenny Dichter said: “Air Partner has tremendous heritage, leadership expertise and unique capabilities that will allow us to accelerate our global strategy and credibly expand our offerings in a meaningful way. We look forward to sharing more details on the transaction and our go-to-market plans after the deal formally closes.”