PE-backed CTS Engines names new CFO

CTS Engines, a portfolio company of Palm Beach Capital Partners, has hired Peter J. Iannone as chief financial officer. Based in Ft. Lauderdale, Florida, CTS is an jet engine maintenance repair and overhaul provider.

PRESS RELEASE

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–CTS Engines, a leading independent jet engine MRO and portfolio company of Palm Beach Capital Partners, announced the hiring of Mr. Peter J. Iannone as Chief Financial Officer, a key addition to further develop the growing company. Mr. Iannone has held a numerous executive management positions in several industries and comes with a wealth of finance experience, including mergers and acquisitions, entrepreneurships, and publicly-traded companies. Mr. Iannone holds a Master’s Degree in Business Administration from California Lutheran University.

“I am excited to join the team at CTS Engines during this time of fast-paced growth and I look forward to working with a proven industry leader in bringing the company to the next level,” said Mr. Iannone. “We are pleased to have an executive of Peter’s caliber join our team, and look forward to continued growth under his leadership,” said Brian Neff, CTS’s Chief Executive Officer.

CTS Engines is a high quality provider of maintenance, repair, and overhaul services to owners and operators of jet engines worldwide. In its world-class, 60,000 square foot engine service center, located in Ft. Lauderdale, Florida, the company offers complete engine overhauls on the CF6 engine platform, including the CF6-50, CF6-80A, and CF6-80C, as well as other mature jet engine platforms. Globally, the company offers outstanding field service support on nearly every major engine platform in operation.

Since 2002, CTS Engines has built its reputation on the ability to provide its customers with a better solution for engine maintenance. Please see www.ctsengines.com for more information.

Founded in 2001, Palm Beach Capital is a private equity investment firm which specializes in making investments in and building early and middle-stage private companies. With offices in both West Palm Beach and Tampa, Florida, the firm focuses on high growth investment opportunities. Since its inception, Palm Beach Capital has made investments in 37 companies. For more information, please visit the firm’s website at www.pbcap.com.