Weinberg Capital Completes Successful Exit of AeroRepair
CLEVELAND, Jan. 14, 2020 /PRNewswire/ -- Weinberg Capital Group is pleased to announce the successful exit of its interest in Aero 3, Inc. ("AeroRepair" or the "Company"). AeroRepair is a leading provider of wheel and brake maintenance, repair and overhaul services to the commercial, corporate and general aviation industries. Sale terms were not disclosed.
Weinberg Capital invested in AeroRepair in early-2012, attracted by the quality of the people, favorable industry dynamics and strong reputation of the Company which served as an attractive platform for growth. During Weinberg Capital's ownership, AeroRepair grew from a single facility located in New Hampshire to the largest independent wheel and brake Maintenance, Repair and Overhaul (MRO) platform in North America with six locations in New Hampshire, Georgia, Indiana, Arizona, Quebec and Alberta.
"AeroRepair has become an important player in the aviation wheel and brake industry and Management is grateful for the guidance provided and partnership created with Weinberg Capital in building a world class MRO. Their support has been an integral part of our success," said Daniel M. Bell, President & CEO of AeroRepair.
Ron Weinberg, a Director and Principal of Weinberg Capital, said "During our ownership it has been impressive to see the AeroRepair management team improve not only the processes and effectiveness of the Company, but also its size and footprint in a demanding and important industry. We are proud to have been part of this era of their success."
Weinberg Capital Group was represented by KeyBanc Capital Markets, Inc. and Benesch, Friedlander, Coplan & Aronoff LLP in connection with the transaction.
Weinberg Capital Group is a Cleveland, OH based private equity firm that invests in well-positioned middle market companies located throughout the U.S. with annual revenue from $10 to $100 million and EBITDA ranging from $2 to $10 million. WCG focuses on firms where the current ownership and management reinvest in the transaction, and management remains in place, affording current shareholders and management an opportunity to achieve liquidity coupled with ownership continuity. The firm's current portfolio covers a broad range of industries including manufacturing, business services, consumer products, aerospace, and value-added distribution. Additional information on WCG can be found at www.weinbergcap.com.
SOURCE Weinberg Capital Group
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