GenNx360’s Portfolio Company Precision Aviation Group, Inc. Continues its Growth with Another Acquisition
Portfolio Company News - January 28, 2020
New York, New York. January 28, 2020 – GenNx360 Capital Partners (“GenNx360”) today announced that its portfolio company, Precision Aviation Group, Inc. (“PAG”), has made its second acquisition in just over 4 months through the purchase of World Aviation Corporation (WAC). This transaction represents the latest step in an aggressive expansion strategy by GenNx360 for PAG. In 2018, GenNx360 took a controlling interest in PAG, a leading provider of products and value-added services to the worldwide aerospace and defense industry. Toronto-based WAC specializes in the rewind and repair of rotary and static electrical (air and oil-cooled) generators and motor sub-components. The addition of WAC broadens PAG’s suite of services following the acquisition of Momentum, a global FAA Certified Part 145 Repair Station specializing in Aviation Cockpit Flat Panel Displays.
David Mast, President & CEO of PAG stated, "We are excited about the acquisition of WAC which further diversifies PAG’s MRO capabilities by expanding our services into electric motor sub-component repairs. The acquisition allows us to provide our customers with expanded support at our repair stations and to vastly increase our capabilities and reduce the costs associated with providing MRO services. Furthermore, with PAG’s existing location in Vancouver, the addition of WAC’s location in Toronto expands our footprint in Canada and enhances our support to our customer base in the region.
Daphne Dufresne, the GenNx360 Managing Partner who led the transaction said, "I am pleased to assist PAG on its continued positive growth trajectory. The latest acquisition is a testament to the strength of PAG’s management team. We’re excited about the opportunities that exist to expand PAG’s market share and extend its products and services offerings. World Aviation brings over 60 skilled technicians to our team and we are committed to working alongside them to help grow the business further."
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 machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City.
About Precision Aviation Group
Precision Aviation Group (PAG) is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With 11 locations, 9 repair stations, and over 300,000-square-feet of sales and service facilities in the United States, Canada, Australia, Singapore and Brazil - 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®). PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft. PAG subsidiaries have MRO capabilities on over 25,000 products, including accessories, avionics, dynamic components, fuel accessories, hydraulics, instruments, starter/generators, and wheels/brakes.
For media inquiries about this press release, please contact:
Carmen Rojas, Director of Investor Relations
GenNx360 Capital Partners
Tel: +1 212.257.6772