Phoenix Associates Land Syndicate (Phoenix) today announced the acquisition of Superior Avionics, Inc. of Ft. Lauderdale, Florida.
Established at the Fort Lauderdale Executive Airport (FXE) in 1990, Superior Avionics is an FAA Certified Repair Station specializing in the sales, service and installation of avionics equipment in corporate jet aircraft. Superior Avionics maintains current dealerships for all major avionics manufacturers' including Honeywell, Rockwell Collins, Universal, L-3 Communications and Garmin. Superior's employees, averaging over 20 years of experience, have earned the company an outstanding reputation for providing the highest quality avionics services at a competitive price.
Paul Alonzo, President and CEO of Phoenix, stated, "We are very pleased to welcome Tim Hankins, President of Superior Avionics, and all of his employees to the Phoenix Group of Companies. Superior is our second acquisition of an aircraft-related business in the Ft. Lauderdale area."
Mr. Alonzo added, "Superior will provide avionic services for all current and future aircraft owned by the Best Jets Group of Companies. We believe that having our own avionics shop will greatly enhance the pricing and profitability on our 21st Century Best Jets Silver, Gold and Platinum Edition Lear 25 Jets."
Superior Avionics was projecting $2 million in revenues for year end 2007, prior to the addition of the vast amount of work to be supplied by the Best Jets Group of Companies. Profit margins are expected to be above 15%. Phoenix acquired Superior for $1.5 million in an all-cash transaction.
Phoenix Associates Land Syndicate
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries.
Source: Phoenix
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