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Salem Partners Advises North American Aircraft Services and Mangrove Equity Partners on Acquisition of AOG, Inc.
Dépèche transmise le 11 janvier 2012 par Business Wire
Salem Partners Advises North American Aircraft Services and Mangrove Equity Partners on Acquisition of AOG, Inc.
SAN ANTONIO--(BUSINESS WIRE)--North American Aircraft Services, Inc. ("NAAS") along with its partner, Mangrove Equity Partners ("Mangrove"), have completed the acquisition of Aircraft On Ground, Inc. ("AOG"), a member of Taurus Aerospace Group and a portfolio company of Macquarie Capital. The transaction represents the marriage of two of the most well-respected aircraft fuel tank services companies in the industry today. Los Angeles-based Salem Partners acted as the exclusive investment banking advisor to NAAS and Mangrove Equity. Terms of the transaction were not disclosed.
“Bringing AOG into the NAAS family was an essential move to grow operations and develop internal synergies in order to bring added value to our combined efforts, our customers and the global industry we serve”
“Bringing AOG into the NAAS family was an essential move to grow operations and develop internal synergies in order to bring added value to our combined efforts, our customers and the global industry we serve,” cited Scott Hagler, president of NAAS. “The addition of over 120 technicians, along with an expanded European presence, dramatically enhances our ability to address customer needs.”
David Watson, president of AOG, added, “As the companies integrate, we look forward to providing the industry with new, complementary services that will be earmarked by the same superior quality and workmanship that customers have come to expect from both NAAS and AOG.”
Hunter Reichert of Mangrove is bullish on the event. “Mangrove invested in NAAS to help its management create a premier, international, aircraft services provider, and the acquisition of AOG represents our first bold step in that direction.”
Sean Walker, Managing Director at Salem Partners, observes, “The Maintenance, Repair & Overhaul (MRO) space is brimming with activity, and the strong are surviving by teaming up. The NAAS acquisition of AOG is just another example of how well-branded companies distance themselves from the pack in this very competitive environment.”
About Salem Partners
Founded in 1997, Salem Partners is a Los Angeles-based investment bank and wealth management firm that provides capital raising and merger & acquisition advisory services to companies in the media and entertainment, life sciences, technology and aerospace and defense industries. For more information, please visit: www.salempartners.com.
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