GenNx360 Capital Partners Announces Acquisition of Precision Aviation Group, Inc.
Portfolio Company News - July 30, 2018
GenNx360 Capital Partners (“GenNx360”), a New York-based private equity firm which invests in middle market business services and industrial companies is pleased to announce its acquisition of Precision Aviation Group, Inc. (“PAG” or the “Company”), effective July 26, 2018. PAG, established in 1993, is a leading provider of maintenance, repair and overhaul (MRO) and supply chain solutions for fixed and rotary-wing aircrafts serving diverse end markets. Headquartered in Atlanta, Georgia, the Company operates out of nine locations in the United States, Canada, Australia, Brazil and Singapore.
“PAG is a leading provider of MRO services with a talented management team and a lot of growth potential.” said Daphne Dufresne, the GenNx360 Managing Partner who led the transaction. “PAG operates in a space that we know well and can add value through our industry relationships and operating initiatives. We look forward to working alongside management to capitalize on future growth opportunities.”
David Mast, President & CEO of PAG, commented, “We are excited about partnering with GenNx360. Their industry experience, OEM relationships, and operational expertise will allow us to quickly enhance our current suite of products and services. Additionally, we are now poised to pursue the multiple avenues of growth available to us and expand on our mission of providing industry leading Aviation MRO services.”
Financial terms of the transaction were not disclosed.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial and environmental services, packaging, food and agricultural products and services, logistics and supply chain solutions, industrial machinery and components, 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 Precision Aviation Group, Inc.
Precision Aviation Group (PAG) is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With nine locations and more than 260,000-square-feet of sales and service facilities in the United States, Canada, Australia, Brazil, and Singapore, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain, and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO®) services. For more information on Precision Aviation Group, please visit www.precisionaviationgroup.com
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Investor Relations Manager