Wheels Up Experience Inc., the leading brand in private aviation, today announced it has reached an agreement to acquire Air Partner PLC, a U.K.-based global aviation services group with operations in 18 locations and across four continents. Under the terms of the transaction, Wheels Up will acquire the entire issued and to be issued ordinary share capital of Air Partner for 125 pence per share, equivalent to an enterprise value of approximately $107 million. The acquisition is expected to close later in the first quarter subject to shareholder and regulatory approvals.
Founded in 1961, Air Partner is a global aviation services company providing private jet, group and freight charter and aviation safety & security solutions to industry, commerce, governments and private individuals, across civil and military organizations.
Air Partner will provide Wheels Up the ability to expand its service offerings internationally, and Wheels Up expects Air Partner to leverage Wheels Up’s investments in operations, service and technology on a global basis with an active and engaged customer base. The proposed acquisition will enhance Wheels Up’s brand equity and will also add an experienced global team from a company with more than 60 years of continuous operations in private aviation.