Sunday, August 30, 2015

Carlyle to Round Trip Landmark Aviation for Second Time

The Carlyle Group might get frequent seller points for putting Landmark Aviation on the selling block once again.  In 2007 Carlyle sold affiliates Landmark Aviation and Standard Aero to Dubai Aerospace for $1.8 billion.  Today Carlyle wants to move Landmark Aviation for $1.7 billion.

The quiet 2007 sale came between two public uproars over Dubai companies buying U.S. ports and the NASDAQ stock exchange.  Carlyle likes to monetize assets at top valuations.  The private jet set has had a great twenty year run.  One can only hope the winds turn and lift the finances of the little people at the expense of the greed and leverage boys.

My vision of Carlyle chiefs boarding their last Landmark owned flight has the attendant saying, "PEU class, step this way.  At your seat you'll notice a program for the World Economic Forum in Davos and a personal sized set of handcuffs and leg chains.  Let's hear some clicking boys."

Update 9-23-15:  Carlyle will get over $2 billion for Landmark from BBA Aviation   The deal merges the #1 FBO operator in the U.S. with Landmark at #3.  I expect the "Just Us" Department and Treasury (CFIUS) to do their usual PEU double stamp of approval.