InTech services and refurbishes heavy wear aircraft interior components such as seating, floor panels, windows, wall panels, trays, galleys and lavatories. Customers include regional airlines, mainline carriers, large OEM’s, aircraft leasing companies, and other MRO facilities. The company was founded in 1998, and has operations and employees in four locations in the US with a headquarters in Houston (www.intechaero.com).
Azalea and Argosy formed the Ranger AeroSystems platform late last year with a goal to acquire aerospace companies with at least $10 million in revenues or EBITDA above $2 million. Specific areas of interest include (a) precision manufacturing – sole source or limited source flight critical parts on long life airborne platforms, both fixed wing and rotary wing; (b) component overhaul – value-added services for components, rotables, and sub-assemblies on any airborne system; (c) specialty MRO – technical services companies supporting commercial or military aircraft; and (d) other aerospace segments where a consolidation strategy can be carried out.
Azalea Capital, the lead investment group in Ranger AeroSystems, invests in middle market companies that have minimum annual revenues of $10 million and EBITDAs of $2 million to $10 million. Industries of interest include manufacturing, business services, and value-added distribution with a special interest in aerospace, consumer packaged goods, healthcare and energy and industrial services. Azalea Capital was founded in 1996 and is headquartered in Greenville, SC (www.azaleacapital.com).
Argosy invests from $5 million to $15 million in lower middle market companies that have revenues of $10 million to $100 million and EBITDA margins of 10% or greater. Sectors of interest include manufacturing, business services, and value-added distribution. Earlier this month, Argosy held a final closing of Argosy Investment Partners V, LP at the fund’s hard cap of $300 million. The firm is headquartered in the Philadelphia suburb of Wayne, PA (www.argosycapital.com).
Ranger Aerospace is a private equity consolidator specializing in aerospace operations and aviation services. Previous successful investments include Aircraft Service International Group, Keystone Helicopter, and Ranger International. Ranger’s ventures have employed up to 4,250 employees, with operations at as many as 56 airfields and operating sites in North America, Latin America, Europe, Middle East, and Pacific. The firm was founded in March 1997 and is based in Greenville, SC (www.rangeraerospace.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-17-15