Gulfstream parent General Dynamics has completed its acquisition of Switzerland-based business aircraft services provider Jet Aviation for SFr2.45 billion ($2.18 billion) from Permira Funds-controlled Dreamliner Lux.
The acquisition, which was announced in August, significantly boosts General Dynamics' maintenance and completions capability worldwide and add seven fixed-base operations to the portfolio. "As a unit of General Dynamics, Jet Aviation positions us to capture additional growth opportunities in the business-aviation market," says General Dynamics chief executive Nicholas Chabraja, The Jet Aviation and Midcoast Aviation and Savannah Air Center brands will be retained along with current management.