InstarAGF acquires Skyservice

InstarAGF Asset Management Inc, through InstarAGF Essential Infrastructure Fund, has acquired a majority equity ownership interest in Skyservice Investments Inc. from Fulcrum Capital Partners and management shareholders. Financial terms were not disclosed.

Founded in 1986, Skyservice is a leading provider of business aviation services operating in strategically located facilities in Toronto, Montreal, Calgary and Ottawa. Skyservice operates three complementary divisions: fixed-base operations (FBO), aircraft management services; and aircraft maintenance.

In December 2012, Fulcrum Capital Partners IV invested $22 million in equity in Skyservice in support of a management buyout.

InstarAGF, which focuses on mid-sized infrastructure assets in North America in the energy, utilities, civil and social infrastructure categories, manages a portfolio of high quality businesses that include an interest in the passenger terminal at Billy Bishop Toronto City Airport, a vital transportation hub for the city of Toronto and surrounding region.

“This is an exceptional opportunity to acquire a majority interest in a premier aviation infrastructure business that is led by a proven management team and generates stable cash flows,” said Gregory J. Smith, President and Chief Executive Officer of InstarAGF. “We share Skyservice’s commitment to delivering world-class service, safety and convenience for customers and look forward to partnering with management to augment the company’s value proposition and growth opportunities.”

“We are proud of Skyservice’s award-winning facilities, services and safety record, and are pleased to welcome InstarAGF as a long-term partner for the next phase of our company’s growth,” said Marshall Myles, Chairman and Chief Executive Officer of Skyservice. “Working alongside the experienced InstarAGF team, we look forward to further enhancing our stakeholder relationships and to expanding Skyservice’s distinctive service offering and geographic footprint in the years ahead.”

photo credit: Skyservice

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.