Greenwich Aerogroup finalizes Aero Precision deal
Jan. 23, 2013, Wichita, Kan. - Greenwich AeroGroup, Inc. announced today that all regulatory approvals have been received and Aero Precision Industries, LLC is now officially part of Greenwich AeroGroup.
In early January, Greenwich AeroGroup announced its intention to acquire the Livermore, Calif. based supplier of aftermarket original equipment manufacturer (OEM) parts, systems and custom logistic support services for military aircraft operators worldwide.
“Now that we have the necessary regulatory approvals in hand we have successfully concluded the acquisition of Aero Precision Industries,” said President and CEO of Greenwich AeroGroup Jim Ziegler. “We are very excited this transaction is final and we look forward to working with the management team and all the employees as we welcome them into the Greenwich AeroGroup companies.”
Aero Precision’s business model is focused on military operators and key aerospace and defense original equipment manufacturers (OEM). Ziegler added that the addition will benefit the portfolio of Greenwich AeroGroup by expanding its capabilities in military and government markets in more than 60 countries throughout North America, South America, Europe, the Middle East, Africa, Asia and the Pacific Rim.
Janes Capital Partners served as exclusive financial advisor and Foley & Lardner served as legal advisor in the transaction to Aero Precision. Pillsbury Winthrop Shaw Pittman served as legal advisor to Greenwich AeroGroup.