Ranger Aerospace Acquires Texas Aviation Services

Ranger Aerospace, an industry consolidator that specializes in the aviation industry, has acquired Texas Aviation Services, Inc., a rotorcraft services company in Fort Worth, Texas.


Operating leadership of Texas Aviation Services remains the same, with Tim Woodard in place as the company's long time President. Company officers of TAS all remain in their respective positions. Tim Woodard said: "The Texas Aviation Services management team has grown the company steadily with quality leadership and strong customer service. Our management and employees are all very enthusiastic about the opportunities this investment provides." Mr. Woodard and his father Carl "Woody" Woodard were the principal selling shareholders of Texas Aviation Services, and both are also now stockholders in the new enterprise.

Tim Woodard also said he's excited about the company's prospects for growth now that it has the financial capital and management expertise of Ranger Aerospace behind it. "I see an opportunity to do something that Woody and I never could have done," he said. "I think Ranger Aerospace will do everything in their power to give us the tools to be everything we can be."

Texas Aviation Services recently won the FAA's Diamond Award, a certificate of excellence given for high levels of ongoing training of the technical workforce. TAS customers include major EMS and corporate fleet operators, state and local governments, federal agencies, OEM's, firefighting, news gathering, agricultural, law enforcement agencies, and individual helicopter owners. TAS enjoys a strong reputation with helicopter operators and owners in Latin America. Today TAS has roughly one-third of its efforts on military helicopter retrofit programs, and two-thirds on domesticand international civilian helicopter completions. A growing segment of the business is earmarked for "MRO" (maintenance, repair, and overhauls). Texas Aviation Services operates under an FAA certificate for Repair Station (Part 145) services, plus numerous OEM licenses and authorizations.

John Murphey, the retired Chairman and CEO of Bell Helicopter Textron, is a member of the Board of Directors of Ranger Aerospace & Aeronautics, Inc., and brings more than four decades of helicopter industry experience to the governance of this rotorcraft consolidation. Investors include Trinity Hunt Partners, Ranger Aerospace LLC, Ranger's management, and other private investors. The majority institutional shareholder of Ranger Aerospace & Aeronautics, Inc. is a partnership controlled by Trinity Hunt Partners LP of Dallas, TX.

Trinity Hunt Partners is a Dallas-based, regionally focused private equity firm specializing in leveraged acquisitions, recapitalizations and late-stage growth financings of established middle-market companies with enterprise values between $15 million and $150 million in the niche manufacturing, aerospace services, business services, health care, media and consumer products industries. For more information on Trinity Hunt Partners, visitwww.trinityhunt.com.

Ranger Aerospace, with offices in Grapevine, TX, is a privately held investment and management holding company that partners with private equity institutions to acquire and grow companies in aviation services and aerospace support operations. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in aviation services, aerospace programs, engineering, finance, corporate development, MIS, marketing & strategic planning, Total Quality Management, mergers & acquisitions, post-merger integration, and turnarounds.

Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company's management and are subject to various risks and uncertainties that are beyond the Company's control and may cause actual results to differ materially from management's expectations.

Additional Information can be found on the web at www.rangeraerospace.comand www.texasaviationservices.com. Previous Ranger Aerospace investments canbe viewed at www.keystonehelicopter.com and www.asig.com.

SOURCE Ranger Aerospace & Aeronautics, Inc.


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