PT6A turboprop MRO specialist Airforce Turbine Service (ATS) is to partner with aerospace and defence specialist private equity company McNally Capital and, as part of the transaction, will be joined by Turbine Engine Maintenance Repair and Overhaul (TEMRO) as a wholly owned operating subsidiary, providing certified engine maintenance and aftermarket services from its facility in Johannesburg, South Africa.

Founded in 1989 and headquartered in Mathis, Texas, ATS delivers MRO, on-wing aircraft-on-ground (AOG) field support and a comprehensive suite of aftermarket solutions, including engine and parts sales, exchange programmes and rental solutions. In combination with TEMRO, ATS now operates a global maintenance footprint with additional locations in Malaysia and South Africa, as well as a remote sales and technical support office in Guatemala.

“ATS is at an important inflection point in its growth, with significant opportunities ahead to expand and scale the business,” says Chris Carson, managing partner and owner of ATS. “As we evaluated potential partners, McNally Capital clearly stood out for its deep understanding of our business and proven experience scaling aerospace services platforms. It is the right partner to help take ATS to the next level while remaining true to our culture and commitment to customers.”

“This partnership with McNally Capital represents a significant milestone for ATS,” adds COO Augustine Lara. “McNally brings deep aerospace expertise, a long-term mindset and a strong appreciation for the mission-critical nature of what we do. With its support, we are well-positioned to expand our capabilities, invest in our people and infrastructure, and better serve operators navigating ageing fleets, rising utilisation and ongoing supply chain challenges.”

Ravi Shah, partner at McNally Capital, highlights the strategic rationale for the investment and McNally’s conviction in ATS’s platform and growth potential: “ATS is at a compelling inflection point, with clear opportunities to scale its platform, expand capabilities and continue serving operators at the highest level. The team has built a differentiated business grounded in operational excellence, customer trust and a strong culture. We are excited to partner with ATS to support its next phase of growth while preserving the values and mission-critical focus that define the company.”

The acquisition of ATS marks McNally Capital’s first platform investment out of McNally Capital Fund III, and was completed alongside Rob Wilson, who will serve as executive chairman of ATS. Wilson is a longtime McNally Capital industry partner and former president of business aviation and general aviation at Honeywell Aerospace.