WICHITA, Kan., January 7, 2013 – Greenwich AeroGroup, Inc. announced today that it has signed a definitive agreement to acquire Aero Precision Industries, LLC. Based in Livermore, Calif., Aero Precision is a recognized leader in the supply of aftermarket original equipment manufacturer (OEM) parts, systems and custom logistic support services for military aircraft operators worldwide.
“Aero Precision has done an outstanding job in executing its business model with military operators and key aerospace and defense OEMs,” said President and CEO of Greenwich AeroGroup Jim Ziegler. “This addition to our portfolio allows us the opportunity to expand our capabilities in the international military and government markets.”
The primary platforms supported by Aero Precision include widely installed fighter (F-16, F-15 and F-18), transport (C-130) and rotary wing (UH-60/S-70, UH-1, AH-64 and CH-47) aircraft.
“Greenwich AeroGroup will provide the necessary resources to allow us to accelerate our growth around the world,” said President of Aero Precision Frank Cowle. “We look forward to becoming part of such a diverse company focused on adding value to our customers and OEM partners and providing additional opportunities to our employees.”
Aero Precision has a substantial global footprint, generating sales to more than 60 countries throughout North America, South America, Europe, the Middle East, Africa, Asia and the Pacific Rim.
The acquisition is subject to the receipt of applicable regulatory approvals and is expected to close in the first quarter of 2013. Janes Capital Partners served as exclusive financial advisor and Foley & Lardner served as legal advisor in the transaction to Aero Precision. Pillsbury Winthrop Shaw Pittman served as legal advisor to Greenwich AeroGroup.
Aero Precision’s business model is focused on military operators and key aerospace and defense original equipment manufacturers (OEM).
During this award period, its quality rating was 100 percent and its on-time delivery exceeded 99 percent. Aero Precision is one of 459 suppliers to receive the Silver level of recognition.