Moelis Capital Partners has acquired PATS Aircraft Systems, a provider of aircraft services and components to original equipment manufacturers and airline operators.
“We are very excited about this partnership which we are confident will help us grow and better meet the needs of our customers,” said John Martin, President and CEO of PATS Aircraft Systems. “There is tremendous opportunity ahead and with MCP we have found a partner that is as passionate about the future as we are and excited to support the company in achieving its goals.” Mr. Martin will continue in his roles as President and CEO and the other members of the PATS management team will remain in their current positions.
PATS Aircraft Systems, is a provider of an array of aircraft services, components and integrated systems to original equipment manufacturers, airline operators, ultra-high net worth individuals, governments and corporations worldwide. PATS and its subsidiary Hollingsead International have provided auxiliary fuel systems and other integrated systems and specialty components to most aircraft OEMs and first tier aerospace industry suppliers. In addition, PATS is a leading service provider for Boeing Business Jets (BBJ) and other VVIP aircraft, performing maintenance, modification and VVIP interior completions. The company is headquartered in Georgetown, DE (www.patsaircraft.com).
“We were impressed by PATS’ strong leadership team, successful track record, heritage of innovation, blue-chip customer base and dynamic culture. The company has built a reputation for providing high-quality service to very demanding customers, employing a hands-on management style with an emphasis on meeting the customer’s expectation no matter what it takes. We’re particularly excited by the company’s growth prospects and we look forward to working with this talented management team,” said Jim Johnston, a Partner at MCP.
Moelis Capital Partners (MCP) is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, an independent investment bank. Moelis Capital Partners manages $870 million of committed capital and specializes in traditional private equity investments in the middle market. The firm is based in New York (www.moeliscapitalpartners.com).
JetCapital and Propeller Investments served as buy-side advisors to MCP on the transaction, and Parr Brown Gee & Loveless served as counsel to MCP. PNC Bank, in continuance of its relationship with PATS, provided the senior debt financing.
2014 PEPD • Private Equity’s Leading News Magazine • 6-5-14