First Aviation Services Inc. ("First Aviation") was established in June 1995 by First Equity Group ("First Equity") to acquire National Airmotive Corporation ("NAC") from Triton Group Ltd. In March 1997, First Aviation acquired the assets of Aerospace Products International, Inc. ("API" - formerly A…
First Aviation Services Inc. ("First Aviation") was established in June 1995 by First Equity Group ("First Equity") to acquire National Airmotive Corporation ("NAC") from Triton Group Ltd.
In March 1997, First Aviation acquired the assets of Aerospace Products International, Inc. ("API" - formerly Aircraft Parts International Combs, Inc.) from AMR Combs, Inc., a subsidiary of AMR (now American Airlines Group). API is located in Memphis, Tennessee and provides aircraft parts distribution and supply chain management services. In 1999, API expanded into Canada, forming Aircraft Products International Ltd. In 2000, API expanded again, into the Asia Pacific market, forming API Asia Pacific Inc., and in 2006 API established operations in Shanghai, China. First Aviation sold its interest in API in 2013.
In December of 2009, First Aviation acquired Kelly Turbine Rotables, Inc. (KATR) the repair and overhaul subsidiary of Kelly Aerospace Inc., since renamed Aerospace Turbine Rotables, Inc. (AeTR). AeTR is best known for its leadership in the overhaul and repair of landing gear, brakes, hydraulic, pneumatic and electrical components, flight controls and aircraft structures, and hose assemblies for corporate, military and regional aircraft. Also in December 2009 First Aviation acquired from TAT Technology Ltd. the propeller overhaul division of its wholly owned subsidiary Limco-Piedmont, and re-named the company as Piedmont Propulsion Systems, LLC (PPS).
In 2015, First Aviation established Evolution Aerospace Inc. (EVO) as an aircraft parts company specializing in FAA PMA products.
First Aviation also acquired the battery repair and overhaul assets of Foxtronics, Inc. in 2015 and merged those assets into AeTR.
In January 2018, First Aviation acquired a minority shareholding of Prop-Works Propeller Systems, Inc. of Winnipeg, Manitoba, as well as its sister facility in Edmonton, Alberta.
Today, First Aviation, together with its subsidiaries and investments, is one of the leading suppliers of aircraft component maintenance, repair and overhaul ("MRO") services through three Federal Aviation Administration / European Aviation Safety Authority certified repair station facilities. The First Aviation companies also engineer, design, and develop proprietary FAA-certified replacement parts and repairs; two of First Aviation's repair station facilities are FAA-certified Production Approval Holders and Evolution Aerospace, Inc. is First Aviation's wholly-owned FAA PMA parts sales and distribution company.
First Aviation's customer base includes passenger and cargo airlines, corporate aviation, and military operators.
First Equity Group, headquartered in Westport, CT, is a leading participant as both principal and advisor in a number of transportation-related industries. Since its founding in 1985, First Equity has consummated over $4 billion in transactions as an advisor for marquee aerospace corporations such as Bombardier, Gulfstream, Triumph Group, Honeywell, and BBA Group. First Equity has also acted as an advisor to the United States Department of Justice and Department of Defense with regard to aerospace and defense industry M&A activity.
First Equity consummated its first prinicpal transaction in 1992, acquiring Holiday-Tyler Printing, Inc. ("HPTI"). First Equity then spun-out Imtek, LLC from HPTI and later lead Imtek's acquisition of D.R. Denman, Inc. In 2001, First Equity acquired Skip Barber Racing School, LLC, which subsequently acquired Panoz Racing School under First Equity's leadership.
Currently, First Aviation is First Equity's most significant investment. First Equity actively seeks acquisition candidates for both First Aviation (aerospace aftermarket), and an additional aerospace manufacturing investment platform.