Harris Williams Advises Precision Aviation Group on its Sale to GenNx360 Capital Partners
Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it has advised Precision Aviation Group (PAG), a portfolio company of PNC Riverarch Capital, on its sale to GenNx360 Capital Partners (GenNx360). PAG is a leading provider of value-added aftermarket services to the turbine general aviation, defense and commercial fixed and rotary wing markets. The transaction was led by Chris Rogers, Doug Kinard and Mike Rohman from Harris Williams’ Aerospace, Defense & Government Services (ADG) Group.
“PAG is one of the leading independent component repair and aftermarket services platforms in the industry with a strong track record of both organic and acquisition-based growth,” said Chris Rogers, a managing director at Harris Williams. “With superior customer service and a breadth of technical repair capabilities, the company is uniquely positioned to capitalize on the long-term demand trends within the aerospace and defense end markets. GenNx360 will be a great partner for PAG’s management team during the company’s next chapter of growth and we’re excited about what lies ahead for this platform.”
“Aftermarket services, particularly within component repair, continues to be a significant focus for investors in the aerospace and defense aviation markets,” added Doug Kinard, a director at Harris Williams. “PAG is the latest addition to our ADG Group’s deep track record of successful transaction outcomes for leading A&D supply chain and aftermarket services providers, which includes Fastener Distribution Holdings, Herndon Products and West Star Aviation, among others.”
PAG is a leading global provider of aircraft component repairs and supply chain management services for mission-critical rotary and fixed wing aircraft that cannot afford extended downtime. Offering a unique combination of global presence with local support, PAG maintains a network of nine maintenance, repair and overhaul facilities strategically located in key aviation markets across four continents.
PNC Riverarch Capital is a middle market private equity firm which invests in privately held companies headquartered in North America. The firm seeks well-positioned companies where it can invest $20 million to $100 million of equity in the form of buyouts, recapitalizations, corporate divestitures and growth financings. PNC Riverarch Capital invests across a variety of industry sectors, including outsourced business services, specialized manufacturing, value-added distribution, and consumer products and services. Since 2011, PNC Riverarch Capital has deployed over $500 million of capital across 18 platform companies and numerous add-on acquisitions. PNC Riverarch Capital is a division of PNC Capital Finance LLC, a wholly owned indirect subsidiary of The PNC Financial Services Group, Inc. (NYSE: PNC). Since 1982, PNC has invested equity capital in more than 100 companies.
GenNx360 is a private equity firm focused on acquiring middle market business services and industrial companies. The firm invests in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City.
Harris Williams (www.harriswilliams.com), a subsidiary of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams’ ADG Group offers strategic advice to a global base of leading aerospace, defense and government services clients. For more information on the ADG Group and other recent transactions, visit the ADG Group’s section of the Harris Williams website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.