Ropes & Gray advised Travel Management Company on the deal
Wheels Up, the membership-based private aviation company, executed the acquisition of Travel Management Company (TMC), with an effective closing date of May 31, 2019. TMC, the largest wholesale-focused light jet operator in the U.S., operates an owned and leased fleet of Hawker 400XP aircraft in North America.
This strategic acquisition is in response to increasing demand from Wheels Up Members for high-quality light jets that meet Wheels Up’s stringent safety and operational standards. As a complement to the current Wheels Up fleet of 93 aircraft, TMC’s fleet of 26 Hawker 400XP aircraft will further strengthen the Wheels Up Light Jet offering and growing Charter Marketplace.
TMC will operate as an independent subsidiary of Wheels Up and continue to provide the same service to their existing wholesale channel partners. TMC customers and wholesale channel partners will continue to engage with their respective TMC contacts, including Phil Dodyk and the TMC leadership team. TMC will continue to operate out of its current location in Elkhart, IN.
The Ropes & Gray team was led by mergers & acquisitions partner Carl Marcellino (Picture) and included business restructuring partner Gregg Galardi (New York), finance partner Kevin Jarboe (Boston), tax partner Benjamin Rogers (Boston) and litigation & enforcement partners Martin Crisp and David Hennes (New York).
Involved fees earner: Martin Crisp – Ropes & Gray; Gregg Galardi – Ropes & Gray; David Hennes – Ropes & Gray; Kevin Jarboe – Ropes & Gray; Carl Marcellino – Ropes & Gray; Benjamin Rogers – Ropes & Gray;
Law Firms: Ropes & Gray;
Clients: Travel Management Company;