Centre Partners makes 3x on sale of Ross Aviation to Carlyle platform

Centre Partners made its initial investment in Denver-based Ross Aviation in 2005 and completed 22 add-on acquisitions in a move to grow its market share, according to a prepared statement.

”Ross Aviation illustrates Centre’s successful investment strategy of partnering with proven management teams to build market leading companies,” Bruce Pollack managing partner of Centre Partners, said in a prepared statement on the deal, which closed on Aug 5. Financial terms of the transaction were not disclosed.

New York and Los Angeles-based Centre Partners invested in several locations to grow Ross Aviation, which serves commercial and private customers with aviation fueling and hanger services in Denver, Santa Fe, New Mexico, Scottsdale, Arizona, Miami, and the Hawaiian islands.

Landmark Aviation said the acquisition increased the size of its network to 75 locations globally from 57.

Jeff Bartoli, managing director of Centre Partners, said, ”Our disciplined approach to growing and managing the business allowed us to assemble a first class company which proved to be a highly attractive acquisition candidate for a strategic buyer,” according to the statement.