Greenwich AeroGroup Finalizes Acquisition of Aero Precision Industries, LLC

WICHITA, Kan., January 23, 2013 – Greenwich AeroGroup, Inc. announced today that all regulatory approvals have been received and Aero Precision Industries, LLC is now officially part of Greenwich AeroGroup.

In early January, Greenwich AeroGroup announced its intention to acquire the Livermore, Calif. based supplier of aftermarket original equipment manufacturer (OEM) parts, systems and custom logistic support services for military aircraft operators worldwide.

“Now that we have the necessary regulatory approvals in hand we have successfully concluded the acquisition of Aero Precision Industries,” said President and CEO of Greenwich AeroGroup Jim Ziegler. “We are very excited this transaction is final and we look forward to working with the management team and all the employees as we welcome them into the Greenwich AeroGroup companies.”

 

Aero Precision’s business model is focused on military operators and key aerospace and defense original equipment manufacturers (OEM).  Ziegler added that the addition will benefit the portfolio of Greenwich AeroGroup by expanding its capabilities in military and government markets in more than 60 countries throughout North America, South America, Europe, the Middle East, Africa, Asia and the Pacific Rim.

 

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.

                                                               

About Aero Precision

Aero Precision is a leader in aerospace distribution and services and a premier worldwide stocking distributor of aircraft OEM parts.  With 20 years of reliability, quality products and customer service, Aero Precision facilitates the purchasing process by sourcing all military aircraft parts requirements under its unique logistic support model.  Aero Precision has sole stocking distribution agreements with Honeywell, Hamilton Sundstrand, Crane Aerospace, Texstars, CEF, Woodward, Parker, Circor, Eaton, A&M Aerospace, Zodiac Aerospace and other strategic OEM partners for various product lines and supports 60+ countries worldwide. News and information are available at www.aeroprecision.com.

 

About Greenwich AeroGroup
Greenwich AeroGroup, Inc., owns and operates providers of general, commercial, government and military aviation services including: maintenance, avionics and interior refurbishments; fixed base operations; aircraft sales, charter and management; manufacturing and engineering; component repair and overhaul; parts distribution and financial services. Current locations include: Atlantic Aero, Inc., located at Piedmont-Triad International Airport in Greensboro, N.C.; Western Aircraft, Inc., located at Gowen Field in Boise, Idaho; Summit Aviation, Inc., located at Summit Airport in Middletown, Del.; DAC International, Inc., located in Austin, Texas; Matrix Aviation, Inc., located in Wichita, Kan.; Professional Aviation Associates, Inc., located in Atlanta, Ga.; Professional Aircraft Accessories, Inc., located in Titusville, Fla.; NASAM, Inc., located in San Francisco, Calif., and GCCUS Inc. located in Aptos, Calif. Additionally, Greenwich AeroGroup owns an interest in Helivia Aero Taxi located in Rio de Janerio. News and information are available at www.greenwichaerogroup.com.

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