Technology conglomerate AMTEK has signed and agreement with First Equity to acquire First Aviation Services whose subsidiaries include Aerospace Turbine Rotables, Inc., Associated Aircraft Manufacturing & Sales, Inc., Aviation Blade Services, Inc., Evolution Aerospace, Inc., Master Support, Inc for an undisclosed sum.
The First Aviation companies will continue to operate under the leadership of Paul Bolton, President & COO. First Aviation will be a business within the North American Business Unit of AMETEK’s MRO Division. Speaking about the sale Bolton said “AMETEK is an outstanding company with a strong track record of performance. They understand our industry and bring important resources to support First Aviation’s continued growth.” “First Aviation is a strong strategic fit with our MRO platform, providing attractive market expansion opportunities and broadening the scope of our component MRO services,” added David A. Zapico, AMETEK Chairman and Chief Executive Officer. “Their proprietary products and services further broaden our differentiated products serving mission critical applications. We look forward to leveraging our respective operating, engineering and distribution strengths to continue to grow our combined capabilities.”
In a message to colleagues, Aaron Hollander, Co-founder, Chairman & CEO said , “I am truly grateful to have worked with such an incredible team over the past 30 years. I am extremely optimistic about the future of First Aviation, the opportunities this transaction will provide to my colleagues and the contribution the company will continue to make to our industry.” Hollander will serve as Chairman of First Equity Group Inc. post-closing.
