January 02, 2014
Signature Flight Support completed its acquisition of the assets of Maguire Aviation Group at Van Nuys Airport (VNY) in California, effectively tripling its presence at the busy general aviation airport.
The acquisition expands Signature’s footprint at VNY to 1.17 million sq. ft. of hangar, ramp, passenger lounges and office space.
It also provides Signature with its second dedicated NetJets facility at VNY. NetJets opened the 10,000-sq.-ft. Van Nuys facility through a teaming agreement with Maguire in 2012. Signature in November formally opened a NetJets terminal at Palm Beach International Airport in Florida.
With the exception of the NetJets terminal, Signature will rebrand the Maguire facilities and operate them as part of its Signature Flight Support network. The Maguire staff at the facilities will be folded into Signature Flight Support. While Signature will own and operate the facilities, Maguire founder and CEO Robert Maguire says Maguire Investments will continue developing the facilities in coordination with Signature. “We have a great franchise at Van Nuys Airport, and Signature Flight Support was our clear choice,” Maguire says.
The acquisition gives Signature a major anchor in the Southern California area, and an expansive operation at the foot of the Hollywood entertainment industry. The acquisition also complements Signature’s plans to build what will become its second largest facility to the north at San Jose International Airport.
Signature recently received San Jose City Council approval for its planned $82 million fixed-base operation (FBO) complex at Norm Mineta San Jose International Airport. The approval included a 50-year lease and operating agreement to build and operate the FBO on 29 acres on the west side of the airport. The city council in April formally approved Signature’s bid to develop the project.
When originally announced, the San Jose site was to be Signature Flight Support’s largest. But the Van Nuys acquisition eclipses those plans.