GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm investing in industrial and business services companies in the U.S. middle market, today announced that its portfolio company, Precision Aviation Group, Inc. ("PAG"), has acquired Turner Aviation, a highly regarded aviation maintenance, repair, and overhaul (MRO) services provider based in the United Kingdom.
The acquisition of Turner Aviation marks PAG's entry into the EMEA (Europe, Middle East, and Africa) region and represents a key milestone in PAG's strategic plan to expand its global MRO capabilities. Headquartered in Glasgow, Scotland, Turner Aviation has been serving the aerospace and defense industries since 1954 and is a UK Civil Aviation Authority (CAA) and EASA Part 145 approved repair station.
David Mast, President and CEO of PAG, commented: "The acquisition of Turner Aviation represents a significant milestone in the continued growth of PAG. Their deep technical expertise, strong customer relationships, long-serving leadership team and strategic location make it an ideal partner for PAG. We are excited to build on Turner's impressive legacy."
Douglas Muirhead, Managing Director of Turner Aviation, added: "We are thrilled to become part of the growing PAG family. This acquisition will not only provide Turner with enhanced resources and a global network but also allow us to better serve our customers."
Pratik Rajeevan, Principal at GenNx360 Capital Partners and lead for the PAG investment, commented, "PAG's acquisition of Turner Aviation underscores our strategy of partnering with management teams to build industry-leading platforms through thoughtful expansion. The Turner team's reputation for quality and reliability makes this an outstanding step in broadening PAG's reach and service capabilities across key global markets."
GenNx360 acquired PAG in 2018 and continues to work closely with the management team to support the company's organic growth initiatives and targeted add-on acquisitions. Turner Aviation marks PAG's tenth add-on acquisition under GenNx360's ownership. GenNx360's PAG team includes Ron Blaylock Managing Partner; Lloyd Trotter, Managing Partner; Reece Zakarin, Vice President; and Jon Langenfeld, Associate.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle-market industrial and business services companies. The firm's operationally focused investment strategy leverages deep industry expertise and proven value-creation tools to drive sustainable growth across its portfolio companies. For more information, please visit www.gennx360.com.
About Precision Aviation Group (PAG)
Precision Aviation Group (PAG) is a leading provider of maintenance, repair, and overhaul (MRO) and value-added supply chain services to the aerospace and defense industries. With 25 FAA-approved repair stations, 27 locations worldwide, 1,100+ employees, and over 1.2 million square feet of production/distribution facilities, PAG offers comprehensive MRO services on over 200,000 product lines. PAG supports operators in the Airline, Business and General Aviation (BGA), Military and Rotary Wing markets through its Inventory Supported Maintenance, Repair, and Overhaul (ISMRO®) business model. For more information, visit www.precisionaviationgroup.com
About Turner Aviation
Turner Aviation, established in 1954 and based in Glasgow, Scotland, is a UKCAA and EASA-approved MRO provider offering specialized services in the repair and overhaul of avionics, components, and fuel systems. Turner serves a diverse customer base across the EMEA region. For more information, visit www.turner-aviation.co.uk
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Contacts:
Media Contact:
Carmen Rojas
Director of Investor Relations
GenNx360 Capital Partners
Email: crojas@gennx360.com
