Sell-side representation
Seller representation
Sell-side FBO representation.
Selling an FBO is not a listing exercise. Value is established before the business goes to market, competition is engineered rather than hoped for, and the agreed price is defended through diligence, consents and closing.
We run a structured four-phase process and remain alongside ownership from engagement through funding.
The process
Engagement
90–120 days
Close · Funded
Phase 1
Preparation & Positioning
We prepare the business so buyers underwrite it on its strongest defensible basis.
- Engagement kickoff and diligence request list
- Site visit and management interviews
- Three to five years of financials and operating KPIs
- Financial normalization and EBITDA adjustments
- Preliminary valuation delivered
- Business profile and marketing teaser prepared
- Buyer strategy developed
- Data room populated
Milestone
Data room, valuation and teaser prepared
Phase 2
Market Outreach
We introduce the business to qualified buyers and create a competitive environment.
- Teaser distributed to qualified buyers
- Confidential information memorandum drafted
- NDAs executed; CIM released
- Data room opened to qualified buyers
- Buyer Q&A managed
- Management calls scheduled
- Indications of interest received and analyzed
Milestone
Qualified buyer interest established
Phase 3
Presentations & Bidding
We drive buyers to their best price and terms.
- Management presentations
- Buyer site visits
- Expanded data room access
- Detailed diligence Q&A
- Letters of intent received; terms negotiated
- Preferred buyer selected
Milestone
LOI executed with the selected buyer
Phase 4
Diligence & Close
We protect deal value through to funding.
- Quality of earnings
- Environmental Phase I
- Legal and insurance diligence
- Airport sponsor consent and lease assignment
- Fuel supply agreement consents
- Purchase agreement finalized and executed
- Regulatory approvals
- Working capital and fuel inventory true-up
Milestone
Deal closed and funded
Phases are sequenced but flexible. Activities overlap, boundaries blend, and timing adapts to each transaction.
A typical process
Competition is the mechanism that produces price. A controlled outreach to a curated group of credible buyers typically narrows as follows.
6–8
Qualified buyers approached
3–4
Letters of intent received
Begin
Considering a sale?
Initial conversations are confidential and handled directly by the firm. Most begin with a view of value before anything goes to market.
