The company has been owned by another private equity company Tiger Infrastructure, which alongside Apollo, plans to reinvest to support future growth of Modern Aviation.
Partner at Apollo Dave Cohen said, “We are excited for Apollo funds to acquire Modern Aviation, working with Tiger, Mark and the team to support the business in its next phase of growth.
“Modern Aviation is known for its excellent client service and has built a strong infrastructure network with clear growth prospects across new and existing locations. We look forward to leveraging our deep experience investing in infrastructure and aviation assets to help the Company execute on its strategic plans.”
Modern Aviation CEO Mark Carmen said, “We are thrilled to be partnering with the Apollo team and we appreciate Tiger’s continued support as they have been with us since Modern was just an idea. Together, we are committed to executing Modern’s strategy of supporting our customers in a safe environment, investing in our 16 existing locations and growing our network. I’d like to thank all of our Modern Aviation team members, whose steadfast dedication to customer service and safety drive our success.”