Weinberg Capital Buys Wheel & Brake Division

Weinberg Capital Buys Wheel & Brake Division

avianor nf1 Aero 3, a portfolio company of Weinberg Capital Group, has acquired the Wheel & Brake Division of Avianor (Avianor W&B).

Avianor W&B is an FAA and EASA (European Aviation Safety Agency) certified repair station that specializes in the repair and overhaul of aircraft brakes and wheel assemblies. Avianor W&B serves similar markets as AeroRepair but also performs repair and overhaul services for Boeing and Airbus aircraft. The Avianor W&B division is the second largest independent wheel and brake maintenance facility in Canada with a capacity to service over 10,000 units per year. Avianor W&B is based in Montreal with an additional facility in Calgary. Click HERE for the Avianor W&B web page.

Over the next several months, Avianor W&B will be integrated into Aero 3 and rebranded AeroRepair Canada.

Ronald Weinberg Jr nf1“The acquisition of Avianor W&B represents a further extension of the maintenance capabilities of Aero 3 and will provide a host of new customers, increased services and aircraft models,” said Ronald (Chip) Weinberg, Jr., a Managing Director and Principal at Weinberg Capital.  “That being said, the most attractive aspect of this transaction is our expanded geographic presence as we gain a stronger foothold into the Canadian aviation market.  We look forward to integrating the businesses as we continue to build Aero 3 into a globally-recognized leader in aircraft maintenance.”

Weinberg Capital is seeking additional add-on opportunities for Aero 3.  Add-on candidates would be active in the repair and overhaul of aircraft brakes, wheel assemblies, landing gear and other mechanical and hydraulic components.  Also of interest are businesses involved in the manufacture and distribution of PMA parts (a PMA – Parts Manufacturer Approval – is an approval granted by the Federal Aviation Administration to a manufacturer of aircraft parts).

Aero 3 was formed by Weinberg Capital Group in 2012 to acquire AeroRepair Corp., which specializes in the repair and overhaul of regional and corporate aircraft brakes, wheel assemblies and landing gear, and Hemico, a manufacturer of replacement or modified aircraft parts. Aero 3 has facilities in Indianapolis; Phoenix; Griffin, GA (south of Atlanta), and Londonderry, NH (north of Boston) (www.aerorepaircorp.com).

“Through this acquisition, Aero 3 will grow from four to six strategically located facilities and will expand its aircraft and accessory repair and overhaul capabilities. Importantly, by adding facilities in Montreal and Calgary we will truly be a “one-stop shop” for customers throughout the United States and Canada,” said Daniel Bell, CEO of Aero 3.

This buy of Avianor W&B is the second add-on acquisition for Aero 3 in 2015.  In August, the company completed the acquisition of Accessory Overhaul Group (AOG) which specializes in the repair and overhaul of aircraft brakes and wheel assemblies as well as starter generators, batteries, oxygen canisters and related aircraft components.  AOG was headquartered south of Atlanta in Griffin, GA and had an additional facility in Phoenix, AZ (www.aogatlanta.com).

Weinberg Capital Group specializes in acquiring middle-market companies that are based in North America and have annual revenues from $15 million to $100 million and EBITDAs ranging from $2 million to $10 million.  Sectors of interest include manufacturing, business services, medical and healthcare, aviation services, consumer products, and value-added distribution. Weinberg Capital Group is based in Cleveland (www.weinbergcap.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 10-12-15

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