Salem Five acted as the lead lender financing the $4 million purchase of a provider of fixed-based operations at Beverly Airport.

Nicholas W. Burlingham and John M. Messenger recently purchased KR Diversified Inc., which does business as North Atlantic Air. MassDevelopment partnered with Salem Five on the deal, and each lender provided $1.8 million in financing.

“We regularly finance aviation deals across the country so it was a natural fit for us to take the lead on this transaction in our North Shore community,” said Gordon R. Massey, senior vice president at Salem Five. “We are proud to work with MassDevelopment to finance an acquisition that ensures the growth of the Beverly Airport is in line with the continued growth of our region.”

Beverly Airport is owned by the city of Beverly and town of Danvers and provides aerial access to the North Shore for private and corporate aircraft as well as recreational and instructional flying. North Atlantic Air leases land from the airport to provide fuel, maintenance and other operations infrastructure and management to the facility.

“MassDevelopment is pleased to partner with Salem Five bank on this Beverly Airport project,” MassDevelopment President and CEO Marty Jones said in a statement. “The continuation of airport operations will provide North Shore businesses and residents with committed, quality service for years to come.”

Burlingham and Messenger plan to renovate and expand the airport in the future.