Aircraft Propeller Service, LLC (APS, www.aircraftpropeller.com, Lake Zurich, IL), one of the world’s oldest, largest and leading commercial propeller Maintenance Repair Organizations (MRO) announced today a change in its executive leadership. Mark Grant, who has led the company through years of market growth and dominance, will be transitioning from President and CEO to Chairman. Succeeding Grant as the company’s next President and CEO will be Dan Colbert. He brings to APS over 27 years of broad, strategic, hands-on leadership experience across the spectrum ofprivate equity, Fortune 500 and middle market companies.Colbert joins APS during an especially dynamic period as the company enters its next stage of development within the global aerospace industry. Grant will stay with the company to grow its strategic partnerships and industry alliances.
According to Gary Stark, Vice Chairman of the APS Board, “Dan brings to APS a proven track record in key areas of operations including finance, procurement, service, quality control, supply chain management, process improvement, mergers and acquisitions, and strategic planning. This experience is extremely important to our organization as we continue to execute against our vision and long-term growth strategy. We are confident that hisknowledge, skill-set and appreciation for what APS has accomplished and, going forward, can further achieve, will help take APS to the next level.” Stark added that, “Dan also has a great personality and roll-up his sleeves attitude which fits in very well with the culture at APS.”
Directly prior to joining APS, Colbert served as an Operating Partner for The Riverside Company (New York, NY), a global, middle-market private equity firm, where he functioned as the Board Chairman for six portfolio companies during his tenure. He worked with the leadership teams at these companies to deliver significant operating improvements and earnings growth. Among his accomplishments were the successful sales of four portfolio companies.
Prior to The Riverside Company, Dan served as the President of Crane Composites (Channahon, IL), a global leader in high quality engineered materials. While at Crane, Colbert initiated a new team-based culture, revamped the leadership team, and implemented a new direct sales model which served as the catalyst for high revenue growth. Additionally, he led a strategic acquisition which expanded the company’s product line.
Colbert’s professional career also included multiple roles with Sears Holding Corporation (Hoffman Estates, IL), serving as the corporation’s Vice President-Merger Planning and Integration & Continuous Improvement and prior to that, the Vice President, Carry-In Repair, Parts Supply Chain, and Performance Engineering in the Home Services business.
Dan spent the first half of his career with GE, culminating in several General Management roles with GE Energy (Atlanta, GA). While leading the Engineered Services, Global Parts, and Global Apparatus Services Departments, Colbert consistently grew new orders, sales and income.In joining APS, he is returning to the aerospace industry where he began his career on the Edison Engineering Training Program with GE Aerospace.
Colbert earned both a Master of Science in Electrical and Computer Engineering and a Bachelor of Science in General Engineering from the University of Illinois at Urbana-Champaign.
This latest announcement from APS comes on the heels of a major increase in its credit facilities with TCF Capital Funding(TCFCF, Wayzata, Minnesota) announced in February, tosupport the acquisition of new technologies and capabilities that will expand their service offerings. In addition, APS recently moved its headquarters to a46,000 square foot facility in Lake Zurich, IL in order to accommodate planned growth. APS is an existing customer of TCFCF and a current portfolio company of Iron Range Capital Partners.For more information, visit: www.aircraftpropeller.com
