Prospect Partners-backed Veolocity buys EDN

Velocity, a portfolio company of Prospect Partners, has acquired E.D.N. Aviation. No financial terms were disclosed. Based in Van Nuys, Calif., EDN is an aircraft repair company.

PRESS RELEASE

BURBANK, Calif.–(BUSINESS WIRE)–Velocity Aerospace Group, Inc. (Velocity), a global provider of aviation maintenance, repair and overhaul (MRO) services, today announced the strategic acquisition with management of E.D.N. Aviation, Inc. (EDN), of Van Nuys, Calif. The move expands Velocity’s repair and overhaul service capabilities into control panel services.
Founded in 1991, EDN is an FAA-EASA approved repair station and an ISO9001:2000 certified industry leader in the manufacture, repair and refurbishment of aircraft cockpit panels. EDN also specializes in multi-unit fabrication and engineering/design services for various panel components such as light plates, circuit breaker panels, control wheels, and knobs. Going forward, EDN will continue to be led by its current management team, which includes President Motti Kurzweil.
“EDN, a highly-regarded repair and manufacturing company run by an exceptional leadership team, brings another specialty service and expertise to our offering as we continue to expand our family of aviation MRO services companies able to support a wide range of needs of worldwide airline fleets,” said Velocity CEO Dale Gabel. “The combined vision of our leadership and engineering teams gives Velocity competitive advantages and differentiated services we can provide to our customers.”
Added Mr. Kurzweil, EDN’s founder and President: “We are excited to become part of such a dynamic company. Velocity is deeply committed to growing our business and to EDN’s focus on quality, affordability, speed, and customer service. Our entire dedicated staff looks forward to working with Velocity as we mutually explore growth areas in the future.”
The Burbank, Calif.-based Velocity, which has an 80-year history in aviation MRO excellence, operates FAA-certified repair stations that offer a broad range of test, repair, and overhaul services, including capabilities in avionics and in electronic instrumentation. Velocity can service everything from sophisticated traffic collision avoidance systems, gyroscopes and LED, NVG, and electroluminescent panels to standard accessories like ovens and coffee makers. Velocity serves commercial and regional airlines, corporate business aircraft, and military, municipal, and helicopter markets, both directly and through OEMs and other repair companies.
Velocity is a portfolio company of Chicago-based private equity firm Prospect Partners, LLC, which partners with management to support unique, growing companies.
About Velocity Aerospace Group, Inc.
Velocity Aerospace Group (Velocity) is a world-class provider of component repair and overhaul services, installation and upgrade for aerospace systems, as well as component exchange programs to both operators and maintainers. Velocity specializes in a broad range of high-power accessories, electromechanical, digital, pneumatic, avionic, and gyroscopic aircraft components. Velocity also serves as an authorized stocking distributor for several aircraft instrument and component OEM’s, and industrial instrumentation OEM’s. For more information, please visit http://velocityaerospace.com.

 

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