Press Release

Issued by Turbopower.

July 14, 2021

Turbopower, a maintenance, repair and overhaul (MRO) service provider for gas turbine engines, auxiliary power units and component parts based in Opa-Locka, Florida, has announced its recent acquisition by US investment firms Battle Investment Group and Capricorn Holdings. As an FAA Part 145 repair station and Rolls-Royce authorised maintenance centre Turbopower specialises in servicing turboprop engine platforms, including the Rolls-Royce T56 and Pratt & Whitney PT6.

As part of the acquisition, Vlad Miskovic will assume the role of president of Turbopower. "It's an honour to be named president of Turbopower. I've been working with the Turbopower management team through the transaction process and am extremely excited about the growth prospects for the company," Miskovic said.

In his new role, Miskovic will lead Turbopower's continued delivery of best-in-class MRO solutions to commercial and military customers around the world. Miskovic brings extensive industry experience through his executive leadership roles at Tecomet, Paradigm Precision and Pratt & Whitney.

Miskovic offered, "Turbopower truly has differentiated capabilities with its customer base, technical team and facility that includes on-site engine test cells. The partnership with Battle Investment Group and Capricorn will allow us to accelerate current investments in new capabilities and footprint expansion. Our ultimate focus is supporting the customer and its critical missions."

Cliff Orr, partner at Battle Investment Group, added, "Turbopower represents a unique strategic asset within the MRO market. The company is very well-positioned to capitalise on market opportunities both domestically and internationally. We look forward to supporting Turbopower's sustained expansion and development, including significant internal investments and strategic acquisitions."

Pug Winokur, chairman and chief executive officer of Capricorn Holdings, added, "I am excited to partner with both Turbopower and Battle Investment Group, working to drive the company's continued growth and success."

Terms of the transaction, which closed on June 21, 2021, were not disclosed.