GenNx360 Capital Partners has acquired a majority interest in New Hampshire-headquartered AeroRepair Corp, a provider of wheel and brake MRO services to the commercial, corporate and general aviation industry. The company also provides landing gear, battery and miscellaneous component maintenance and repair services, and through its sister company, Hemico, provides Parts Manufacturer Approval (PMA) engineering services and Designated Engineering Representative (DER) approved repairs.
The company benefits from a broad North American footprint of six locations in Manchester, New Hampshire; Atlanta, Georgia; Indianapolis, Indiana; Phoenix, Arizona; Montreal, Quebec; and Calgary, Alberta. Through growth and diversification, AeroRepair has become the largest independent MRO platform in North America with focus on wheels, brakes, batteries and landing gears. The company was founded in 1994 and is supported by a workforce approaching 200 employees. The current management team will continue to operate the business going forward.
“We are excited about our partnership with GenNx360. Its expertise in business services and deep industry knowledge in this space will be a great asset as we continue to build our portfolio and expand into new markets,” says AeroRepair CEO Daniel Bell. “With extensive experience in airline MRO, GenNx360 has a team of talented professionals with strong technical and operational backgrounds. Together, we will drive the growth of the company.”
GenNx360 managing partner Daphne Dufresne led the transaction, and adds: “There is immense growth potential in the airline MRO sector and we have already identified several organic and inorganic growth initiatives along with AeroRepair's management.”
Weinberg Capital Group, which invested in AeroRepair in early 2012, no longer has any interest in the company. Director and principal Ron Weinberg says: “During our ownership it has been impressive to see the AeroRepair management team improve not only the processes and effectiveness of the company, but also its size and footprint in a demanding and important industry. We are proud to have been part of this era of its success.”