CAV International Joins Forces with Ranger Aerospace

Dépèche transmise le 31 juillet 2009 par Business Wire

CAV International Joins Forces with Ranger Aerospace

CAV International Joins Forces with Ranger Aerospace

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--CAV International, Inc., a US Government outsourcing contractor specialized in Airfield Services & Logistics, has combined with Ranger Aerospace for additional capital strength and management resources to support its continuing growth. CAV (pronounced as in "Cavalry") has enjoyed over 50% compound annual growth rates over the past four years of 2005-2008. Ranger is a private equity consolidator specialized in the aviation industry, with past successes in large scale airfield servicing operations. Ranger's newest investment platform is called Ranger International Services Group, Inc., which acquired a majority stake in CAV International in the 1st quarter of 2009. Additional growth investments and acquisitions are planned for this latest Ranger build-up. This segment of the government outsourcing sector is expected to exhibit continued steady growth in the years ahead. CAV decided to take on new investors and management partners in order to keep pace with the anticipated market growth.

CAV International operates in the growing military outsourcing arena, and has an established reputation for quality, reliability, and cost-effectiveness in its past performance for the US Government. The company maintains a lean cost model, and is able to offer its Government or Prime Contractor customers an absolute cost advantage combined with measurably superior quality metrics on a consistent basis. In 2008, CAV performed over 625,000 man-hours of quality-driven professional services, handled over 18,000 USAF airplanes across 19 time zones, processed over 850,000 in-transit military passengers, and managed over 140,000 tons of cargo. Considered to be experts at Airfield Services & Logistics, the majority of CAV's contracts currently serve the US Transportation Command and Air Mobility Command at numerous locations. All of DOD's transport-sized aircraft, combined with the "CRAF" fleet of civilian airliners, together are the primary fleet that CAV serves with its many capabilities, and that combined airlift represents, by far, the "largest airline in the world."

Carroll Vaughan, founder and President of CAV International, said: "Boeing recently published an estimate that Government Outsourcing will be a $400 Billion total market over the next 10 years. CAV is well positioned to grow with that rising trend, both independently and teamed with larger prime contractors. We wanted to take on larger shareholders and management partners to further fuel our continuing growth.” The Chief Operating Officer of CAV is Bill McLendon, an Air Force Academy graduate and long-time veteran of the aviation services industry.

Steve Townes, Ranger International’s CEO, stated: "We view this deal as a critical first step in achieving our long term objective of building a highly specialized independent Airfield Services & Base Logistics provider that is focused on solving our nation’s airfield, logistics, and base services challenges domestically and abroad. CAV is working at the heart of that mission, and we look forward to continuing to build its capability under the Ranger umbrella."

Ranger teams with Private Equity institutional investors to buy and build aerospace services companies. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in aviation services, aerospace program management, engineering, finance, corporate development, government programs, MIS, marketing & strategic planning, executive recruiting, Total Quality Management, LEAN initiatives, mergers & acquisitions, post-merger integration, and turnarounds.

Forward-Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward-looking statements are estimates by the Company's management and are subject to various risks and uncertainties that are beyond the Company's control and may cause actual results to differ materially from management's expectations.

For more information on the web, visit www.cavint.com and www.rangeraerospace.com.

Business Wire

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