NewSpring Capital exits ATS

NewSpring Capital has sold Aviation Technical Services to an unnamed buyer. No financial terms were disclosed. ATS is a transport aircraft maintenance, repair and overhaul provider in North America.


Radnor, PA – October 7, 2015 – NewSpring Capital, a family of private equity funds providing growth and expansion capital, is pleased to announce that it has successfully exited Aviation Technical Services (“ATS”), a portfolio company of its dedicated mezzanine fund, NewSpring Mezzanine Capital (“NewSpring”). The exit was the result of an acquisition of ATS by a Private Equity Financial Sponsor and a significant equity rollover by management.

Since NewSpring’s investment in July 2013, ATS, one of the largest third-party, transport aircraft maintenance, repair and overhaul (MRO) providers in North America, was able to continually enhance performance and expand its core business. During NewSpring’s holding period, ATS significantly increased revenue and EBITDA, in large part, due to their ever-expanding footprint, including a Moses Lake, WA location expansion, the opening of a newly-renovated 607,000-square-foot MRO complex at Kansas City International Airport in Kansas City, MO, and the acquisition of Texas Air Composites based in Ft. Worth, TX.

“Since being introduced to ATS just over two years ago by AeroAdvisory, LLC, I have had the pleasure of working with Matt Yerbic and his team as they continued their growth and expansion. Their consistent improvements through operating efficiencies, organic growth, facility expansion and acquisitions are a true testament to the skill set of this outstanding management team,” said Greg Barger, NewSpring Partner. “We are extremely pleased to have been part of the success at ATS.”

“I have greatly enjoyed working with Greg and the NewSpring team,” said Matt Yerbic, President and CEO of ATS. “NewSpring has committed significant strategic and operational resources and with Greg’s support and guidance, we were able to grow substantially over the past two years. This growth led to a very successful investment for all involved.”

About Aviation Technical Services
ATS has been providing maintenance, repair and overhaul (MRO) services for commercial and military aircraft for more than 40 years. Today, ATS is home to more than 1,000 employees who work together to support a global customer base across three major business platforms: Airframe Services; Components Services; and Engineering Services. From a base of operations in Everett, Washington and now with facilities in Moses Lake, Washington and Kansas City, Missouri, FAA Class IV Airframe and Class 1, 2 and 3 accessory ratings enable ATS to perform MRO services on virtually any transport aircraft in the world. ATS is a Minority Business Enterprise (MBE) certified by the National Minority Supplier Development Council (NMSDC®). For more information, visit