Kelly Aerospace Turbine Rotables, Inc. (“KTR”), a wholly owned subsidiary of Kelly Aerospace, Inc. has been acquired by First Aviation Services, Inc. (OTC:FAVS). Located in Wichita, Kansas, KTR is an FAA certified repair station that provides complete overhaul, exchange and repair services for flight critical aircraft components such as flight controls, landing gear, braking systems and actuators. KTR serves the general aviation and piston powered aircraft markets.
Based in Westport, Connecticut, First Aviation Services is a supplier of aircraft components, repair and overhaul services, third party logistics and inventory management services to the aviation industry worldwide. Customers include commercial airlines, air cargo companies, fleet operators, fixed base operators and the government.
Terms of the transaction were not disclosed. Philpott Ball & Werner served as advisor to Kelly Aerospace.