PNC Riverarch Capital’s Purchase of Aviation Company Includes B.C.-Based Subs

The acquisition of Atlanta, Georgia-based Precision Aviation Group Inc. by U.S. private equity firm PNC Riverarch Capital in December included key subsidiaries located in Surrey, B.C., peHUB Canada has learned. Precision Accessories and Instruments Canada Inc. and Precision Heliparts Canada Inc. contribute to the company’s specialization in products and value-added services to the global aerospace and defense industry. Precision Aviation Group was previously a portfolio company of Florida Capital Partners.


PNC Riverarch Capital Acquires Precision Aviation Group

Wednesday, December 19, 2012

PNC Riverarch Capital announced the acquisition of a controlling interest in Precision Aviation Group, Inc. (PAG), a provider of aviation maintenance, repair and overhaul services. Senior debt for the transaction was provided by Fifth Third Bank and subordinated debt was provided by BB&T Capital Partners Mezzanine. PAG was previously a portfolio company of Florida Capital Partners.

Founded in 1993, PAG provides comprehensive supply chain and Inventory Supported MRO services (ISMRO) for instruments, avionics and accessories for a variety of fixed-wing and rotary-wing aircraft. Serving over 3,000 customers in 62 countries, the company is headquartered in Atlanta, with facilities in Vancouver, BC; Long Beach, CA; Peachtree City, GA; Lafayette, LA; and Brisbane, Australia.

The transaction for PNC Riverarch Capital was led by Michael Hand, managing director; Michael Rost, managing director; Robert Dolan, senior associate; and David Poss, associate. Hand, Rost and Dolan will serve on the PAG Board of Directors.

PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America. PNC Riverarch Capital is a division of PNC Capital Finance.

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