The buyer is picking up Prime Turbines, CT Aerospace, Kansas Aviation and Air Parts & Supply Co. All of the companies specializes in maintaining, repairing and overhauling services and part supply for corporate and regional jet aircraft engines and engine accessories. The purchase agreement includes a payment of up to $40 million depending on the target’s Ebitda achievements in the next two years, and potential additional $5 million payments.
Prime Turbines, headquartered in Carrollton, Texas, specializes in repairing Pratt & Whitney Canada and GE Aviation engines. CT Aerospace, also based in Carrollton, supplies engine parts and services to aircraft repair companies. Independence, Kansas-based Kansas Aviation specializes in repairing oil, air and fuel-related engine accessories for gas turbine engines. Air Parts & Supply, headquartered in Miami, supplies parts, including aircraft ignition parts, fuel control parts, starter generators for engines.