Fortbrand Services LLC and Sasser, Inc. announced that Fortbrand has acquired Xcēd Aviation Services LLC from Sasser. Fortbrand is owned by funds advised by Basalt Infrastructure Partners LLP.
Fortbrand is an essential service aviation infrastructure leasing business focused on Ground Support Equipment (GSE) and Airport Maintenance Equipment (AME). Together, Fortbrand and Xcēd will service ground handlers, passenger airlines, airports, cargo companies, and other end users with a fleet of over 4,900 pieces of equipment across more than 190 airports. Fortbrand and Xcēd operate in the United States, Canada, and the United Kingdom.
With this strategic acquisition, Fortbrand is expanding its footprint and increasing its ability to serve both single-site and multi-site customers with high-quality, responsive, and reliable service. “We are thrilled to welcome Xcēd’s customers and employees to the Fortbrand family,” said Jared Verano, President and CEO of Fortbrand. “This Transaction will support our long-term plan to enhance our asset base, deliver great service to our customers, and accelerate growth. With our expanded network, we will be able to respond faster, offer more equipment options, and draw from a greater team of experienced professionals to get the job done right.”
“In just over a decade, Sasser built, from the ground up, an innovative, customer-centric GSE leasing business and established a brand that is well-known across the industry. We are proud of the team and of the journey we’ve had with Xcēd, and we are excited to watch Fortbrand and Xcēd embark on this next exciting chapter,” said Jeff Walsh, CEO of Sasser.
“We are thankful to Sasser for allowing Fortbrand to acquire Xcēd, which will make Fortbrand a leader in leasing, renting and servicing Aviation Equipment in North America,” said Sal Calvino, Investor and Board member of Fortbrand since 2019.
“Fortbrand and Xcēd are leading providers of mission-critical equipment for the air transportation industry. We are grateful to have had the opportunity to engage with Sasser to advance this Transaction, and we look forward to continuing to support the growth of the combined business,” stated Wil Jones, Partner at Basalt. Foley & Lardner LLP served as legal counsel to Fortbrand.
Wells Fargo served as the exclusive financial advisor and Mayer Brown LLP served as legal counsel to Sasser.
