GenNx360’s Portfolio Company, Precision Aviation Group, Inc. Continues its Growth with the Acquisition of Keystone Turbine Services
Portfolio Company News - May 26, 2021
New York, New York: GenNx360 Capital Partners (“GenNx360”) today announced that its portfolio company, Precision Aviation Group, Inc. (“PAG”), has made its fourth acquisition since GenNx360’s investment through the purchase of Keystone Turbine Services (KTS). 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. Coatesville, PA-based KTS specializes in providing complete OEM-approved aftermarket maintenance, repair and overhaul (MRO) services for operators of the Rolls-Royce M250 series of gas turbine engines, along with related Honeywell and Triumph accessories plus component, spare parts, and field service support.
David Mast, President and CEO of PAG stated, “We are excited about adding KTS to the Precision Aviation Group of Companies. The addition of KTS increases PAG’s repair stations to 12 worldwide, and further diversifies its MRO capabilities by expanding its services into the Rolls-Royce M250 engine. Like PAG, KTS has a history of delivering exceptional customer service, industry-leading products, and cost-effective repair solutions for its customers. Through its strategically located repair stations, the combined organizations will now be better equipped to provide Rolls-Royce M250 operators additional support.”
Daphne Dufresne, the GenNx360 Managing Partner who led the transaction said, "I am pleased to assist PAG on its continued positive growth trajectory. We’re excited about the opportunities that exist to expand PAG’s market share and this partnership will provide significant benefits to our customers. The latest acquisition is a testament to the strength of PAG’s management team.”
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. http://www.gennx360.com.
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 14 Locations, 12 Repair Stations and 450,000-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. www.precisionaviationgroup.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Tel: +1 212.257.6772