Modern Aviation agrees to acquire Hill Aviation LLC

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Operates as Million Air San Juan

Posted: October 27, 2021 at 12:10 p.m. CDT|Update: 16 minutes ago

NEW YORK, October 27, 2021 / PRNewswire / – Modern Aviation today announced that it has signed a definitive agreement to acquire Hill Aviation LLC, which includes FBO and MRO operations at Fernando Luis Ribas Dominicci Airport (Isla Grande Airport / TJIG) in San Juan, Puerto Rico and a satellite FBO operation at Jose Aponte de la Torre Airport (TJRV) in Ceiba, Porto Rico, of Tommy’s Hill and VRM companies. The management and charter activity of Propilot aircraft will remain based at Isla Grande airport.

(PRNewsfoto / Modern Aviation)

Hill Aviation operates the only FBO at Isla Grande Airport, where it offers over 91,000 square feet of hangar and office space and has a long history of providing excellent customer service. The operation will be renamed Modern Aviation after the closing of the acquisition.

CEO of Modern Marc Carmen, said: “We are very excited to acquire Hill Aviation. Isla Grande Airport has grown by attracting new customers as it offers significant advantages over other regional airports: the location of the FBO provides faster access to / from the main routes of San Juan; and customers can access their aircraft directly on the runway unlike comparable airports in San Juan. “

Carmen added: “San Juan is a very attractive and growing general aviation market, and we plan to further develop the Hill Aviation lease by building additional hangars and upgrading the FBO terminal to meet growing market demand. Additionally, we look forward to providing industry best practices through Hill Aviation’s team of dedicated employees for the benefit of all stakeholders at Isla Grande Airport. “

Modern Aviation has distinguished itself in the market by providing world-class customer service, extraordinary quality and a commitment to safety. Modern enjoys an excellent reputation as a solid partner of airport authorities at each of its sites and pursues a growth strategy of investing in its existing sites and acquiring new high-end FBO sites.

“Hill Aviation, which has operated at Isla Grande Airport for over 30 years, has provided exceptional customer service through our exceptional team of employees,” said the CEO of Hill Aviation. Tommy’s Hill. “Modern Aviation is well positioned to build on our success at Isla Grande and to further develop the business to reach its full potential. I look forward to working with Modern Aviation to continue to provide a base of operations for our Propilot business and our customers. We are confident that Modern will provide a great home for our Hill Aviation team members and our loyal customers. “

“We are delighted to have been part of such a successful growth story, and we are proud and grateful to Tommy and his team for being excellent partners in achieving this result,” said Carlos Penzini, Managing Partner of VRM Companies Private Equity.

Modern expects the deal to close in the fourth quarter of 2021.

About modern aviation
Modern Aviation is a growing company building a nationwide network of premium FBO properties. Modern Aviation’s strategy is to acquire and develop FBO operations in growing markets and to focus on providing exceptional service, extraordinary quality and state-of-the-art safety. Modern Aviation has secured backing from growth-oriented private equity fund Tiger Infrastructure Partners. Modern Aviation is actively engaged in the pursuit of additional FBO acquisitions and development opportunities in North America and the Caribbean. For more information, visit https://modern-aviation.com.

About Hill Aviation / Propilot
Hill Aviation is a Million Air franchisee that operates the only FBO at Fernando Luis Ribas Dominicci Airport (also known as Isla Grande Airport and TJIG) at San Juan, Puerto Rico. Hill Aviation also owns and operates a Part 135 aircraft management / charter business and Part 145 repair station.

Hill Aviation also operates an FBO Jose satellite at Aponte De La Torre Airport (Ceiba Airport, code: TJRV), which is located on the east coast of Porto Rico and has an 11,000 foot runway.

About VRM Companies
VRM Companies is a real estate and private equity conglomerate with over 45 years of operations-focused experience. VRM Companies owns and manages a diverse portfolio of private equity firms comprising mortgage banking, real estate development, consumer products, consumer services, outdoor advertising, satellite manufacturing and renewable energy. For more information, visit http://www.vrmcompanies.com

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SOURCE Modern Aviation

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