Wednesday, October 23, 2013
Aerospace Products International Buys AIS
Aerospace Products International, based in Memphis Tenn., has acquired the assets of Avionics International Supply (AIS), of Denton, Texas, for an undisclosed sum.
AIS is a wholesale distribution and repair services company, with its main focus being the procurement and sales of new and used parts and supplies, avionics, electronics, tooling and test equipment along with many other supplementary services and programs that are all designed to support the aircraft repair facility. Aerospace Products International, a portfolio company of private equity firm Resilience Capital Partners, said the acquisition will expand its distribution product line into avionics and electronics.
"Adding AIS's product offerings is another step toward our goal of creating the leading independently-owned parts distributor in the aerospace industry," said Steven H. Rosen, co-CEO of Resilience.
Kenneth C. Ricci, a Resilience co-investor, longtime aviation entrepreneur and Chairman of Flight Options and Directional Aviation, and Ulf Buergel, both operating partners with Resilience, will oversee the investment in AIS.
Resilience's current aerospace portfolio company investments include Flight Options, Sentient, Nextant, Aerospace Products and now Avionics International.
"Resilience will continue to deploy capital in both manufactured product and service companies in the aerospace sector. We will not only be providing significant capital in support of API and Flight Options but are always actively looking for new interesting platform investments in the aerospace industry," Rosen said.