Sir Peter Rigby continues to build his aerospace empire after acquiring Exeter International Airport.
The aviation-loving SCC boss already owns Coventry Airport and Patriot Aerospace, which became the largest British-owned helicopter operator last month following its acquisition of British International Helicopters.
He has now acquired the Devon hub, which is set to handle 750,000 passengers this year, from Balfour Beatty. Although terms of the deal were not disclosed, Balfour Beatty itself bought the airport for £60m six years ago from Devon County Council, when it handled more than one million passengers.
SCC has not made any acquisitions since it sold distribution arm SDG to Tech Data for £220m last year, despite Rigby's pledge that the proceeds would be invested back into its remaining SCC business.
Exeter Airport, which is called home by budget airline Flybe, employs 305 people, meaning the Rigby Group now sustains 450 jobs through its aerospace activities.
"We are intent on developing our aviation business, within the Rigby Group, and we have made a significant acquisition here, and recently with the acquisition of British International Helicopters, in the course of the past month or so," Rigby (pictured) said.
"We now intend to consolidate both of these opportunities with a view to being a leading group in the sectors of regional airports and helicopter operations."
Andrew McNaughton, chief executive of Balfour Beatty, said: "We are pleased to have come to an arrangement... that ensures the future viability of the airport for its staff and the local community it serves."
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