GenNx360 Capital Partners Announces Acquisition of Controlling Stake in AeroRepair Corp
Portfolio Company News - January 07, 2020
New York, NY – January 7, 2020 – GenNx360 Capital Partners (“GenNx360”) is pleased to announce that it has acquired a majority interest in AeroRepair Corp (“the Company”). Headquartered in Manchester, New Hampshire, AeroRepair is a leading provider of wheel and brake maintenance, repair and overhaul services to the commercial, corporate and general aviation industry. The Company also provides landing gear, battery and miscellaneous component maintenance and repair services and through its sister company, Hemico, provides Parts Manufacturer Approval (PMA) engineering services and Designated Engineering Representative (DER) approved repairs. The Company benefits from a broad North American footprint of six locations in Manchester, New Hampshire, Atlanta, Georgia, Indianapolis, Indiana, Phoenix, Arizona, Montreal, Quebec and Calgary, Alberta. Through growth and diversification, AeroRepair has become the largest independent Maintenance, Repair and Overhaul (MRO) platform in North America with focus on wheels, brakes, batteries and landing gears. The Company was founded in 1994 and is supported by a workforce approaching 200 employees. The current management team will continue to operate the business going forward.
“We are excited about our partnership with GenNx360. Its expertise in business services and deep industry knowledge in this space will be a great asset as we continue to build our portfolio and expand into new markets,” said Daniel Bell, AeroRepair’s Chief Executive Officer. “With extensive experience in airline MRO, GenNx360 has a team of talented professionals with strong technical and operational backgrounds. Together, we will drive the growth of the Company,” he added.
“We are excited to make this investment in AeroRepair. There is immense growth potential in the airline MRO sector and we have already identified several organic and inorganic growth initiatives along with AeroRepair’s management,” said Daphne Dufresne, the GenNx360 Managing Partner who led the transaction.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in middle market business services and industrial companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries, with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include packaging, industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit www.gennx360.com
About AeroRepair Corp
AeroRepair Corp is the largest independent Maintenance, Repair and Overhaul (“MRO”) platforms in North America with a focus on wheels, brakes, batteries and landing gears, serving a highly attractive and diverse group of regional and mainline airlines as well as corporate fleets and narrow and wide body aircraft. AeroRepair’s sister-company, Hemico, provides Parts Manufacturer Approval engineering services as well as Designated Engineering Representative approved repairs. AeroRepair offers its customers complete wheel and brake management solutions including high-quality workmanship, leading turn-times, asset management and logistics services. Founded in 1994 and headquartered in Manchester, New Hampshire, AeroRepair benefits from a broad North American footprint with additional five locations in Atlanta, Georgia, Indianapolis, Indiana, Phoenix, Arizona, Montreal, Quebec and Calgary, Alberta.
For more information on AeroRepair Corp, please visit www.aerorepaircorp.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations