Monday, January 7, 2013
Greenwich AeroGroup to Acquire Aero Precision Industries
Greenwich AeroGroup signed an agreement to acquire Livermore, Calif.-based aftermarket aircraft parts supplier Aero Precision Industries. The two companies did not release the financial details of the agreement.
The acquisition is subject to regulatory approvals. Greenwich expects to close the acquisition by the end of the first quarter of 2013.
Aero Precision has supported a number of military aircraft including F-16, F-15, F-18 fighters and C-130 transport aircraft.
“Aero Precision has done an outstanding job in executing its business model with military operators and key aerospace and defense OEMs,” said Jim Ziegler, president and CEO of Greenwich AeroGroup. “This addition to our portfolio allows us the opportunity to expand our capabilities in the international military and government markets.” More