FBO Shannon taken over by British firm

A LIMERICK-based aviation services company has been taken over by a British firm for just over €2.5 million.

FBO Shannon, which has operations at the Co Clare airport and Dublin Airport, has agreed to sell an 85% stake in the company to London-listed BBA Group.

The company provides a number of support services to airlines at Dublin and Shannon, including crew transfer and aircraft refuelling and towing. It also provides a number of services for executive jets including VIP buses.

BBA Group said its Irish acquisition would be a good fit with its Signature Flight Support subsidiary.

“In addition to Shannon, the business can also provide services at Cork Airport, further expanding Signature Flight Support’s presence in Ireland.”

BBA Group, one of the world’s largest aviation firms, said the acquisition was expected to be earnings enhancing in the first year.

For the year ended December 31, 2003, turnover at FBO Shannon was €1.88 million with net operating assets of €145,000. The company is owned by James, Denis and Michael Ryan, according to documents filed with the Companies Office.