Recent

% | $
Quotes you view appear here for quick access.

FIRST AVIATION SVCS Message Board

  • shiftsuper175607 shiftsuper175607 Mar 20, 2013 6:37 PM Flag

    FAVS sells majority interest in API devision

    CLEVELAND, March 20, 2013 /PRNewswire/ -- Resilience Capital Partners, a private equity firm focused on investing in lower mid-market companies in a broad range of industries, has acquired a majority interest in Aerospace Products International, Inc. (API), a global aviation parts and equipment distribution and supply chain management firm, from First Aviation Services Inc.

    " Aerospace Products International is well-positioned to take advantage of the industry's trend toward the outsourcing of after-market product distribution and other critical functions. We will make a significant investment of capital to execute on our strategy of enhancing API's capabilities and competitiveness and build it into a truly great international company," said Steven H. Rosen, Co-CEO of Resilience.

    The acquisition of a majority interest in API is the sixth platform investment in The Resilience Fund III, L.P. In 2012, Resilience closed the Resilience Fund III, L.P., with $222.5 million of committed capital.

    API distributes aircraft parts and accessories to manufacturers, maintenance providers and operators of widely used military, commercial, corporate and general aviation aircraft. API focuses on increasing product availability, minimizing time-to-delivery and reducing process and working capital costs for its customers. It also supplies key business data and metrics to help customers control costs and manage their operations more efficiently. Based in Memphis, Tennessee, API operates through distribution centers and partnerships on every continent.

    Kenneth C. Ricci, a longtime aviation entrepreneur and Chairman of Flight Options, and Ulf Buergel, both operating partners with Resilience, will oversee the investment in API, working closely with the firm's management team. "Aviation services is a complex and capital-intensive industry, but it is one that we know well from our other investments," said Buergel. "We have the experience, management expertise and capital resou

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
FAVS
0.00(0.00%)