Everett, WA (PRWEB) June 21, 2013
Aviation Technical Services (ATS) announced today that it has been purchased from Macquarie Group by members of the current Senior Leadership Team and a handful of experienced aerospace investors. The new ownership group is headed by current President and CEO, Matt Yerbic, and is backed by Wells Fargo, NewSpring Capital and Greenpoint Technologies of Kirkland, Washington. The largest and most tenured provider of maintenance, repair and overhaul (MRO) services on the U.S. West Coast, ATS is proud to return to its roots of being owned and operated in the state of Washington.
ATS began providing MRO services more than 40 years ago in a single hangar space in Renton, Washington. Now with six facility locations, ATS is the second-largest Washington State based aerospace company and already a significant employer of over 1,000 aerospace professionals. Under new ownership, ATS has the platform from which to grow and diversify throughout the region and across the United States.
As part of the ownership change, ATS is governed by a diverse and experienced Board of Directors whose average tenure in the aerospace industry is nearly 20 years. Members of the Board and the Senior Leadership Team are all investors in the company. Together, they bring significant experience, a solid understanding of the business, its customers and a passion for growing a successful company.
“ATS is proud to take this important step to secure our future and ensure long-term stability for our customers, employees and company. We plan to grow, diversify our service and product offerings, create more jobs and to drive the growth of the aerospace industry in Washington State and beyond,” says President and CEO Matt Yerbic.
Greg Barger, Partner at NewSpring Capital and new ATS Board member, adds, "ATS has been a respected leader in the MRO industry for more than 40 years. NewSpring Capital has significant experience helping businesses grow and be successful, and we are proud to partner with the ATS management team to guide its growth and expansion for the long-term."
Jon Buccola, Greenpoint Chairman and Founder, will also serve on the Board of Directors and states, “We are excited to grow our partnership. Greenpoint and ATS have a 15-year working relationship on VIP and Head-of-State programs. Investing in ATS and its facilities guarantees our joint success to deliver quality, on-time completions.”
About Aviation Technical Services
Since opening in 1970, ATS has been providing maintenance, repair and overhaul (MRO) services for commercial and military transport jet aircraft. From a base of operations in Washington State (Everett and Moses Lake), FAA Class IV Airframe and Class 1, 2 and 3 accessory ratings enable ATS to perform MRO services for virtually any transport aircraft in the world. Today, ATS is home to more than 1,000 employees who work together to support a global customer base across five major business platforms: Airframe Services; Components Services; Engineering/ Manufacturing Support; Aircraft on Ground (AOG) Services; Boeing Business Jet (BBJ) Completions/ Maintenance Support. Visit us at atsmro.com.