Aerospace Products International, Inc. (“API”), a business unit of First Aviation Services, Inc. (“FAvS”), has been acquired by Resilience Capital Partners. FAvS will continue to retain a small minority position in API.
Based in Memphis, Tennessee, API is a global aviation parts and equipment distributor which also provides supply chain management services to the aviation industry. API is an OEM-authorized distributor of aircraft parts and accessories to manufacturers, maintenance providers and operators of some of the most widely used military, commercial, corporate and general aviation aircraft. API operates strategically located distribution centers and partnerships in the USA, Canada, China, Asia Pacific, Australia, Europe, the Middle East and Africa.
FAvS, located in Westport, Connecticut, is a leading provider of repair and overhaul, rotables management and related engineering services to the aviation industry worldwide. In addition to its continued minority stake in API, FAvS’ principal operating subsidiaries are Aerospace Turbine Rotables, Inc. in Wichita, Kansas, and Piedmont Propulsion Systems, LLC in Winston-Salem, North Carolina.
Terms of the transaction were not disclosed. Philpott Ball & Werner, LLC served as advisor to FAvS and API.