PETALUMA, Calif. – Business jet services provider Solairus Aviation said Friday that it has agreed to acquire the aircraft management and charter divisions of Clay Lacy Aviation in a deal that will create the world’s largest private aircraft management company.

The combined entity will manage some 500 aircraft, bringing together Solairus’ fleet of 360 jets and Clay Lacy’s fleet of about 140.

No financial details were disclosed.

Solairus said the transaction strengthens its position as the leading pure-play aircraft management company while expanding its scale in private aviation asset management and charter services. The business will remain headquartered in Petaluma, Calif., with offices in Los Angeles and New York.

Solairus said the larger fleet and broader operating footprint will enhance its ability to serve aircraft owners through expanded access, improved pricing and operational efficiencies while maintaining personalized service.

Clay Lacy will retain its fixed-base operator, maintenance and real estate businesses, which will continue to operate independently under the Clay Lacy name.

The acquisition is subject to regulatory approvals and closing conditions. The companies expect the transaction to close by the end of next month.