Vance Street Acquires Associated Painters

Vance Street Acquires Associated Painters

Leading Edge Aviation Services, a commercial and military aircraft painting company and a portfolio company of Vance Street Capital, has acquired Associated Painters, an aircraft painting company specializing in narrow-bodied airplanes. This is the first add-on acquisition for Leading Edge Aviation Services which Vance Street acquired in April 2012.

Associated Painters is an aircraft painting company specializing in narrow-bodied airplanes. The company refinishes over 200 aircraft per year through it four facilities in Washington (2), Florida and Oklahoma. Associated Painters was founded in 1986 and is headquartered in Spokane (

Associated Painters’ President Rod Friese will have an ownership stake in the combined business and will continue to oversee the day-to-day operations of the business along with his entire senior management team.

Leading Edge is one of the largest independent painters of jet aircraft and has facilities throughout the United States. Approximately 95% of Leading Edge’s revenues come from paint and coatings and the remaining 5% come from ancillary services. The company’s customer base includes major US and international airlines, commercial aircraft OEMs and military aerospace OEMs. T Leading Edge was founded in 1989 and is based in Costa Mesa, CA (

“The Associated Painters acquisition is highly complementary to Leading Edge Aviation’s core business and it enables the company to expand its geographic reach into Florida, Oklahoma and Washington,” said Brian Martin, principal at Vance Street Capital. “This strategic acquisition allows us to drive top-line growth by increasing our capabilities and customer base within the aviation maintenance, repair, and overhaul market.”

Vance Street Capital makes control investments in companies with enterprise values up to $200 million. Sectors of interest include precision industrial manufacturing, aerospace & defense, medical components & devices, and business services. The firm is based in Los Angeles (

© 2013 PEPD • Private Equity’s Leading News Magazine • 4-17-13

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