The Sterling Group Acquires Destin Jet

October 13, 2016

Destin Jet is the first fixed-based operator (FBO) in its newly formed FBO network. 

On September 30, Willkie client The Sterling Group acquired Destin Jet, a fixed-based operator (FBO), as the first FBO in its newly formed FBO network, Triumph FBO. An FBO is an airport-located business that provides support services to private aircraft such as fueling, hangaring and maintenance services. Destin Jet is the sole FBO on the Destin Executive Airport field. It services resort destinations in the Florida panhandle area and the Emerald Coast.

The Sterling Group is a Houston-based, middle-market private equity firm that targets controlling interests in manufacturing, distribution and industrial services companies. Greg Elliott will lead the investment for Sterling. Willkie has a long history of working with Mr. Elliott on successful FBO portfolio companies including Trajen and Landmark Aviation.

The Willkie team included partners Bruce Herzog, Hillel Jacobson, David Drewes and Mark Holdsworth; and associates Andrew Fedder, Annise Maguire, Elizabeth Case, Ryan Stott, Thomas Sharkey and Eric DiMuzio.