Precision Aviation Group Inc, which is backed by GenNx360 Capital Partners, has acquired Momentum Services Corporation, a provider of repair services for LCD flat panel displays. No financial terms were disclosed.
NEW YORK, Sept. 10, 2019 /PRNewswire/ — GenNx360 Capital Partners (“GenNx360”) is pleased to announce that its portfolio company, Precision Aviation Group, Inc. (PAG) has acquired Momentum Services Corporation (MSC), a leading global provider of Repair services for LCD Flat Panel Displays. PAG is a leading provider of products and value-added services to the worldwide aerospace and defense industry
David Mast, President & CEO of PAG stated, “We are excited about the acquisition of MSC. The addition of MSC to PAG further diversifies our MRO capabilities by expanding our services into LCD Cockpit Displays. Our investment in MSC allows us to provide our customers with “Next-Generation” Avionics Repair services. We will integrate MSC with our current Avionics Repair Stations in Atlanta and Long Beach to expand their unique portfolio of capabilities and provide innovative LCD Display Repairs to the market.”
Jon Defina, President of MSC commented, “MSC is very enthusiastic about becoming part of PAG. Not only will we be able to significantly expand our product and services offerings to our existing customers, but we are confident in our ability to build on our current portfolio of services and provide PAG’s existing customer base with our specialized Cockpit Display Repair services. We have worked closely with the management team of PAG throughout the acquisition process and believe that this partnership will provide significant benefit to our customers, vendors, and employees.”
“PAG is already generating strong organic growth and today’s acquisition will help the company to reach more customers and offer them additional products and services. We are keen to provide further support to PAG as it continues to build out its business and deliver on its strategic goals, both organically and through further acquisitions,” said Daphne Dufresne, the GenNx360 Managing Partner who led the deal.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business services and industrial companies. We invest in companies with proven and sustainable business models in expanding industries with the objective of implementing the required operating changes to deliver cost efficiencies, accelerate growth, and generate strong financial returns. Target industries include industrial machinery and components, logistics and supply chain solutions, industrial and environmental services, food and agricultural products and services, infrastructure equipment and services, specialty chemicals, packaging, and aerospace and defense. GenNx360 was founded in 2006 and is headquartered in New York City. For more information on GenNx360 Capital Partners, please visit www.gennx360.com.
About Precision Aviation Group (PAG)
Precision Aviation Group (PAG) is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With 10 locations, 8 Repair Stations and more than 280,000-square-feet of sales and service facilities in the United States, Canada, Australia, Singapore and Brazil – PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain – and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO®).
PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft. PAG subsidiaries have MRO capabilities on over 25,000 products, including accessories, avionics, dynamic components, fuel accessories, hydraulics, instruments, starter/generators, and wheels/brakes, (www.precisionaviationgroup.com).