Wichita’s Greenwich AeroGroup to buy Calif.-based Aero Precision
01/07/2013 5:16 PM
08/08/2014 10:14 AM
Greenwich AeroGroup, which has headquarters in Wichita, has signed an agreement to buy Aero Precision Industries, based in Livermore, Calif., Greenwich AeroGroup announced Monday.
Aero Precision is a supplier of aftermarket original equipment manufacturer parts, systems and custom logistic support services for military aircraft operators.
“Aero Precision has done an outstanding job in executing its business model with military operators and key aerospace and defense OEM’s,” Jim Ziegler, president and CEO of Greenwich AeroGroup, said in a statement. “This addition to our portfolio allows us the opportunity to expand our capabilities in the international military and government markets.”
Aero Precision supports fighter, transport and rotary wing aircraft, including F-16, F-15, F-18, C-130, UH-60/S-70, UH-1, AH-65 and CH-47 aircraft.
The acquisition will help Aero Precision grow internationally, Frank Cowle, Aero Precision president, said in a statement.
The sale is subject to regulatory approvals and is expected to close in the first quarter of this year.
Greenwich AeroGroup operates a network of companies that offer commercial, government and the military services, including maintenance, avionics and interior refurbishments, fixed base operations, aircraft sales, charter and management, manufacturing and engineering, component repair and overhaul, parts distribution services.
It was founded in 2007 by Berkley Capital. In Wichita, it operates Matrix Aviation.