Jet Aviation and Hawker Pacific today announced that Jet Aviation has entered into a binding agreement to acquire Hawker Pacific, a leading provider of integrated aviation solutions across Asia Pacific and the Middle East, for US$250 million.

"The acquisition of Hawker Pacific represents a significant step in expanding our footprint, capability and customer offer across Asia Pacific and the Middle East," said Rob Smith, president of Jet Aviation. "Hawker Pacific has a wide range of services including Civil MRO, Fleet Services, FBO Network and Aircraft Sales, enabling Jet Aviation to further expand its current portfolio, enter new markets, and reinforce the company’s position as one of the world’s leading business aviation service providers."

Alan Smith, CEO of Hawker Pacific said "We believe the company’s acquisition by Jet Aviation represents an excellent outcome for Hawker Pacific’s investors, employees and customers. It builds on our strong values and passion for exceeding our customer’s expectations and I, on behalf of the management, am confident that the combination of the two companies will create a clear leader in the aviation space."

Completion of the transaction is subject to customary closing conditions.