Velocity Aerospace Group, a portfolio company of Prospect Partners, has acquired EMC Aerospace, a provider of aviation maintenance, repair and overhaul services.
EMC operates a state-of-the-art FAA-EASA certified repair station that specializes in the repair of a range of components including power generation, pneumatics, hydraulics, and electromechanical. Similar to Velocity, EMC serves commercial and regional airlines, corporate business aircraft, and military, municipal, and helicopter markets, both directly and through OEMs and other repair companies. EMC is based in North Miami Beach (www.emcaerospace.com).
“EMC has a superior reputation for customer service support and craftsmanship, and runs one of the most successful and modern accessory shops in the country,” said Velocity CEO Dale Gabel. “As we continue to grow our family of aviation MRO services companies able to address the ‘tip to tail’ needs of airline fleets worldwide, EMC effectively doubles the number of parts we can service and more than doubles the types of problems we can solve. Velocity is strongly positioned to serve today’s fleets as well as the new generation of aircraft coming over the next 10 to 20 years.”
“EMC is a terrific strategic fit for Velocity. Dale and his team are doing a great job executing their vision for the company,” said Maneesh Chawla, a Principal at Prospect Partners. “In the process, Velocity continues to grow its customer base while expanding the number of services it can offer each customer.”
Velocity Aerospace Group provides aviation MRO services to commercial air transports, corporate business aircraft, regional airlines, and helicopters. The company operates FAA-certified repair stations in California and Florida that offer a range of test, repair, and overhaul services, including capabilities in avionics and in electronic instrumentation. Prospect Partners first invested in Velocity in April 2013. The company is based Burbank, CA (www.velocityaerospace.com).
EMC is Velocity’s second add-on acquisition. In April 2014, Velocity acquired E.D.N. Aviation, a manufacturer and servicer of repair and manufacture of backlit control panels. Velocity continues to seek additional acquisitions of other aviation MRO service businesses based in the United States.
Prospect Partners focuses exclusively on management-led leveraged recapitalizations and acquisitions of niche market leaders with revenues of less than $75 million. Since 1998, Prospect Partners has invested nationwide in more than 120 companies in a range of niche manufacturing, distribution, and specialty service markets. The firm has $470 million of capital under management and is based in Chicago with an additional office in Menlo Park (www.prospect-partners.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-23-15
