NEW YORK, Oct. 4, 2022 /PRNewswire/ — GenNx360 Capital Partners (“GenNx360”) is pleased to announce Aero 3, Inc., the parent company of AeroRepair, has acquired Aircrafters, Inc. (“Aircrafters” or “the Company”). Headquartered in New Castle, Delaware, Aircrafters is a leading provider of wheel and brake parts for the aviation industry through its aftermarket distribution of Collins wheel and brake parts, its extensive parts inventory, and the provision of exchange asset pools for multiple global operators. Founded in 1984, the Company has built a strong international reputation for its broad range of in-stock wheel and brake components and assemblies, Collins’ distribution and 24/7 AOG services. Going forward, the current management team will remain in place. The Company will join the Aero 3, Inc. family of companies consisting of AeroRepair Corp, Hemico, Inc. and AeroRepair Canada, Inc. The Aero 3 Inc. companies provide vertically integrated full-service aviation wheel, brake, battery and landing gear repair and overhaul services for the commercial, corporate and general aviation industry. Aircrafters’ Delaware facility, together with Aero 3, Inc.’s nine (9) North American locations, strengthen the company’s owned and operated logistics network and will further leverage the company’s machine shop and PMA/DER engineering capabilities.
“We are excited to join the industry’s leading North American provider of wheel and brake repair and overhaul services. We have worked closely with the AeroRepair team for many years and know that together we will accelerate our global growth ambitions,” said James Hicks, Aircrafters’ owner and President. Mr. Hicks also added that “AeroRepair’s strong management team, impressive growth and market presence compliments Aircrafters’ extensive parts inventory and Collins’ parts distribution. Together, we will provide a one-stop shop for our customers’ wheel and brake needs.”
“This is an investment we have targeted for some time as Aero 3, Inc., seeks to provide additional value-add services in an increasingly cost sensitive and competitive environment. Our ability to access parts through Aircrafters’ global network and Collins’ distribution will facilitate our North American expansion as well as increase our presence in Europe and other parts of the globe. We are excited to welcome Aircrafters’ dedicated team to the Aero 3 family,” added Daniel Bell, Chief Executive Officer and President of Aero 3, Inc.
Daphne Dufresne, the GenNx360 Managing Partner who leads the Aero 3, Inc. investment said, “This is a transformative acquisition that meaningfully strengthens our market presence. The Aircrafters acquisition is our third acquisition under GenNx360’s ownership and is a testament to the team’s ability to continue executing on one of our growth strategies to build our parts distribution capabilities.”
About Aero 3, Inc.
Aero 3, Inc. is the parent company of AeroRepair Corp and AeroRepair Canada, Inc., which together comprise the largest independent Maintenance, Repair and Overhaul (“MRO”) platform in North America with a focus on wheels, brakes, batteries and landing gear. Together, they service a highly attractive and diverse group of mainline and regional airlines, cargo operators, corporate fleets and narrow and wide body aircraft. AeroRepair offers its customers complete wheel and brake repair and overhaul solutions, including asset management and logistics services. AeroRepair’s sister company, Hemico, Inc., provides Parts Manufacturing Approval engineering services from design to fabrication and Designated Engineering Representative approved parts. AeroRepair benefits from a broad North American presence with facilities located in Manchester, NH, Indianapolis, IN, Atlanta, GA, Phoenix, AZ, Dallas, TX, Miami, FL, Montreal, Quebec and Calgary, Alberta. For more information, please contact [email protected].
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in middle market business services and industrial companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries, with the objective of implementing and supporting value enhancing organic and inorganic initiatives to accelerate growth, deliver efficiencies and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information, please visit www.gennx360.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Email: [email protected]
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners
