Greenwich Aerogroup Completes Acquisition of Banner Aerospace

June 10, 2009
Holding company acquires distribution and MRO company.

GREENWICH, CT — Greenwich AeroGroup Inc. announces that it has completed the acquisition of the assets of Banner Aerospace Holding Company Inc. and its aviation subsidiaries from its parent, the Fairchild Corporation.

"We are excited to welcome the Banner Aerospace team to Greenwich AeroGroup and look forward to their contribution in further growing and enhancing our aviation business," says Jim Ziegler, Greenwich AeroGroup's CEO. "This acquisition is an important step in our strategy to expand our geographic reach, enhance our core competencies, strengthen our client base, and optimize our ability to deliver value to our customers."

Banner Aerospace is a diversified family of companies serving OEMs, commercial and regional airlines, air cargo carriers, corporate and general aviation, and FBOs worldwide. Greenwich AeroGroup is a holding company that owns and operates full service providers of general aviation services.