Denver-based private equity firm KRG Capital Partners has invested in PAS Technologies, which provides innovative repairs and advanced coatings for the aerospace, industrial gas turbine and oil and gas industries. The details of the deal were not revealed. KRG has a $1.96 billion Fund IV, which has so far acquired eight platform companies.
KRG Capital Partners (KRG), a Denver-based private equity firm, announced today that it has completed an investment in PAS Technologies Inc. (PAS), a leading provider of innovative repairs and advanced coatings for the aerospace, industrial gas turbine (IGT), and oil and gas markets. PAS is the eighth platform company for KRG’s $1.96 billion Fund IV and represents KRG’s second platform investment in the aerospace market.
“We are excited to be partnering with the PAS team,” noted Chuck Hamilton, Managing Director of KRG Capital. “PAS is a customer-focused organization with impressive global repair and coating capabilities that enable it to deliver value-added solutions for its partners. We expect to continue to invest in the company’s people and technologies to expand PAS’ growth opportunities and to build upon the impressive operations that its management has developed.”
“The PAS team has spent considerable time with KRG and is looking forward to the new partnership,” said Phil Milazzo, President and Chief Executive Officer of PAS. “We believe KRG and PAS share a common approach to conducting business with the highest standards and KRG’s resources and investment philosophy will enable us to accelerate our development of innovative repair and coating capabilities in support of our customers and OEM partners on a global basis.”
KRG believes PAS is well-positioned to capitalize on attractive fundamentals in the company’s markets. The continued growth in the installed global base of turbine engines in the aerospace and industrial markets will result in increased demand for suppliers that can deliver consistent high service levels and comprehensive capabilities for aftermarket repairs and coatings. The high-wear, intense-heat, and highly corrosive environment in which the parts PAS services operate require impeccable quality and continued innovation. Through the development of innovative repairs, PAS delivers significant value for its customers by extending the useful life of components which are costly to replace. KRG and management intend to continue to invest in PAS’ global capabilities and the development and training of its employees.
About PAS Technologies
PAS, headquartered in North Kansas City, Missouri specializes in providing cost-effective repair and overhaul solutions for aerospace and industrial markets. By using innovative, proprietary high-technology repair processes, along with repair solutions licensed from OEMs, PAS Technologies saves customers money and delivers outstanding solutions. More information is available at www.pas-technologies.com.
Founded in 1996, KRG is a Denver-based private equity firm with nearly $5 billion of capital either deployed or available for future investment, which includes approximately $842 million deployed since inception on behalf of equity co-investors. KRG specializes in investing in customer-focused organizations that offer unique capabilities. The firm seeks investment opportunities where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 39 platform companies and has completed 107 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.