Massachusetts residents may have heard of the company Rectrix. In a recently announced new business formation, Rectrix Commercial Aviation Services has acquired the Westfield company AirFlyte Inc., which operates an executive terminal that offers full fixed-base operations to aviators and includes full-service maintenance facilities as well as hangars.
Rectrix hopes that this acquisition will establish a “‘strategic link'” in East Coast operations for the company. Rectrix was attracted to the purchase by AirFlyte’s reputation among commercial aviators as a full-service site. Currently, AirFlyte is held in high regard and considered to be a valued asset for Rectrix, as they are reported to have explained that the pairing suits them well. The current president of AirFlyte will remain in his position during the acquisition to ensure continuity in operations and business.
AirFlyte has a sterling reputation, with facilities to repair and maintain most types of corporate jets at Barnes Regional Airport. The facilities at the airport include refueling as well as concierge services and a conference center along with business suites and rooms for relaxation between flights. The acquisition of the company will stand as a further effort for Rectrix’s RECAS expansion.
A business acquisition is a complicated legal transaction that may involve numerous types of contracts and agreements. The relative sizes of the two companies may or may not contribute to the complexity of the transaction, but in general, the larger the companies involved, the more complicated the agreements are. No matter how simple or complex a sales agreement may be, a seasoned business attorney may give the purchaser or the seller sound advice on the best way to protect its interests and rights during the sales transaction and assist with drawing up thorough contracts.
Source: Bradenton.com, “Rectrix buys Mass.-based AirFlyte,” Herald Staff, Jan. 8, 2013