Following reports of money and spare parts shortages at MD Helicopters (see EBAN’s April issue), the firm has received financial backing from investment firm Patriarch Partners.

Patriarch acquired a controlling interest in MDHI in July and plans to breathe new life into the long-term growth plans for the manufacturer.

In September MDHI, which manufactures the Explorer, MD500, MD520 and MD600, appointed Robert René as interim ceo and hired Randy Kesterson as coo.

Having previously lead other Patriarch portfolio companies, René’s key responsibilities will be to oversee the formation of a new executive management team and to lead business development efforts. Kesterson will assume responsibility for helicopter production, engineering, completion, quality assurance, material management and IT.

Noting that Patriarch’s investment has provided MDHI company with ‘tremendous upside potential,’ René said: “The company has positioned itself to grow its business over the long-term.”

He also noted that the firm has seen a ‘significant increase in demand’ for spare parts.

Most recently employed as coo of Curtis-Wright Controls, Kesterson has 20 years of experience in the aerospace industry. “Hiring Randy to join our team is a major coup

for MD Helicopters,” René said.

“He will quickly drive MDHI’s product capabilities to an industry-leading level.”