Igneo Infrastructure Partners Acquires Infinity Aviation, Launching Fixed-Base Operator Platform

NEW YORK, 3^rd June – Igneo Infrastructure Partners (‘Igneo’), a global infrastructure investment manager with US$20.5 billion in assets under management, today announced it has acquired Infinity Aviation Group (‘Infinity Aviation‘), a fixed based operator (FBO) platform, in Nashua, New Hampshire.

As part of the transaction, Igneo has acquired a portfolio of on-airport assets at Nashua Airport, otherwise known as Boire Field, in Nashua, New Hampshire (KASH), a public-use general aviation airport located 50 miles from downtown Boston. The assets include hangarage, line services, and fueling rights at the airfield.

Infinity Aviation provides infrastructure and essential aviation services for general aviation, business and air cargo customers in the United States. Under Igneo’s ownership the company will seek to acquire, improve and develop high quality general aviation infrastructure including FBOs and aircraft hangars.

Infinity Aviation will be led by Steven Levesque as chief executive officer. Before joining Infinity Aviation, Levesque was principal of Global Aviation Infrastructure LLC, which provides management and advisory services for corporations, airport sponsors, private equity firms and institutions. Levesque has extensive experience in the general aviation industry, having previously served as President and CEO of both Leading Edge Jet Centers (now SkyService US) and Hawthorne Global Aviation Services, where he led the development and acquisition of approximately 17 million gallons of aggregate fuel volumes per annum and 2 million square feet of hangarage. He was also a commanding officer in the U.S. Navy Reserve, retiring with over 25 years active and reserve service.

"The U.S. general aviation market is experiencing strong growth, and we plan to leverage Igneo’s vast global experience investing in high quality middle-market transportation infrastructure through a differentiated platform,” said John Ma, partner and co-head of Igneo in North America.  "Infinity Aviation has significant growth prospects, and we look forward to building out the business in partnership with Steven. We believe that there is a strong opportunity for high-quality platform businesses such as Infinity Aviation given the growth of the general aviation market.”

Levesque said, “We are thrilled to partner with Igneo to support our strategic goals, including investment in and expansion of the Infinity Aviation platform, as we look to build an industry leading general aviation services business.”

"I am honored and excited to join the Infinity Aviation’s board with the Igneo Infrastructure Partners team and drive growth, support airport communities, and create value as we meet the growing needs of private aviation," said Mark Perryman, President and CEO of Norfolk Airport Authority and former CEO of Landrum & Brown.

Infinity Aviation represents Igneo’s first investment in in the North American aviation sector, its sixth platform investment in North America, and its eighth global investment in transportation and logistics and it’s first investment from Igneo’s dedicated North American infrastructure strategy. Since 2020, Igneo has invested more than US$3.9 billion of capital in the United States, across the transportation, energy, and digital infrastructure sectors. Transaction terms were not disclosed. The acquisition is subject to customary conditions and approvals.

Igneo was advised by A&O Shearman on the transaction.