In March 2005 AFCO, in a joint venture with Quantem FBO Services, LLC, acquired the stock and real estate assets of Byerly Aviation, Inc. and Byerly Avionics Incorporated, a 60 plus-year old family-run business, which provided fixed-based operations services at Greater Peoria Regional Airport and Pekin Municipal Airport, Illinois. As part of the transaction, AFCO acquired the leaseholds on six buildings, which include a total of five hangars, a general aviation terminal and office space. Quantem will manage the two Byerly companies and operate the FBO locations. AFCO will manage the assets and leases.

Charles Stipancic, AFCO Vice President and Chief Operating Officer, successfully negotiated the terms of the Byerly acquisition. “We are very excited about our entry into the FBO real estate development market and our ability to provide innovative financing to acquire FBO real estate and assets.”, said Stipancic.