“Hawthorne has a history of strong operational performance and this investment represents an opportunity for organic and strategic growth in the fragmented market of FBOs,” explained Adel Alderbas, Wafra’s chief investment officer. “Together with Nova, we look forward to seeing Hawthorne expand its reach, realizing its potential as a leading platform of FBO assets.”
Hawthorne operates facilities at Long Island MacArthur Airport in Islip, New York; Chicago Executive Airport; Tuscaloosa (Alabama) Regional Airport; Chippewa Valley Regional Airport in Eau Claire, Wisconsin; Atlanta Cobb County International Airport; and Sioux (Iowa) Gateway Airport. At the latter three destinations, it is the lone aviation service provider.
“We believe Hawthorne’s existing locations form a leading, multi-region FBO network, and with Nova and Wafra’s support we look forward to expanding our footprint to serve a greater portion of the aviation industry,” said Hawthorne CEO Chuck Kegley.