Investment Firm Buys Family-owned Iowa FBOs

Illinois-based investment firm CL Enterprises has purchased family-owned aviation services provider Carver Aero, which operates the lone FBOs at Iowa’s Davenport Municipal and Muscatine Municipal Airports, both of which offer 5,500-foot main and 4,000-foot secondary runways.

The acquisition represents CL's first foray into the aviation industry, and the locations will retain the Carver Aero name.

Davenport, which sees approximately 77 operations a day, has a modern 7,500-sq-ft terminal that includes a passenger lobby, pilot lounge, a pair of snooze rooms, a 30-seat conference room, flight-planning area, showers, and crew cars. The location has a 20,000-sq-ft heated hangar that can shelter up to midsize business jets.

In Muscatine, the FBO is open from 7 a.m. until 6 p.m. and occupies the 4,000-sq-ft city-owned terminal with a passenger lobby, pilot lounge, snooze room, showers, 16-seat conference room, and crew cars. A 6,400-sq-ft hangar with a 16-foot high door can accommodate aircraft up to a Citation V, and the location includes 80,000 sq ft of ramp space.

The purchase also included Carver’s Part 135 operation, which has a Cessna Citation Ultra and three Beechcraft King Airs—a Model 90, 200, and 350—in its fleet, and a Part 145 repair station at the Davenport location.