Milbank LLP represented the joint lead arrangers and joint bookrunners in connection with arranging financing to support Signature Aviation’s acquisition of the TAC Air division of TAC – The Arnold Companies. Signature Aviation is the world’s largest fixed-base operation network for Business & General Aviation customers and the leading provider of global aviation support services. This is Signature Aviation’s second acquisition since it was acquired in June 2021 by a consortium of Blackstone, Global Infrastructure Partners and Cascade Investments after the acquisition of Vail Valley Jet Center in November 2021.
Following the acquisition, 14 TAC Air locations will rebrand and join Signature’s network of fixed-base operators. The transaction allows Signature to enter 11 new markets throughout the United States, including Salt Lake City, UT, Lexington, KY, Buffalo, NY, and Knoxville, TN.
The Milbank team was led by New York-based Global Leveraged Finance partners Marcus Dougherty and Benjamin Sayagh with support from associates Jenny Saufley and Christina Wing.
