First Aviation Services has announced a definitive agreement to be acquired by Ametek. First Aviation Services is a provider of component maintenance, repair and overhaul (MRO) serving the military, corporate and airline markets, while Ametek supplies electronic instruments and electromechanical devices.
The First Aviation companies will continue to operate under the leadership of Paul Bolton, president and chief operating officer. First Aviation will sit within the North American Business Unit of Ametek’s MRO Division.
“Ametek is an outstanding company with a strong track record of performance,” says Bolton. “They understand our industry and bring important resources to support First Aviation’s continued growth.”
David A. Zapico, chairman and chief executive officer of Ametek, says: “First Aviation is a strong strategic fit with our MRO platform, providing attractive market expansion opportunities and broadening the scope of our component MRO services. Their proprietary products and services further broaden our differentiated products serving mission critical applications. We look forward to leveraging our respective operating, engineering and distribution strengths to continue to grow our combined capabilities.”
Aaron Hollander, co-founder, chairman and chief executive officer, shared with his colleagues at First Aviation Services: “I am truly grateful to have worked with such an incredible team over the past 30 years. I am extremely optimistic about the future of First Aviation, the opportunities this transaction will provide to my colleagues and the contribution the company will continue to make to our industry.”
Hollander will serve as chairman of First Equity Group post-closing.
Image: AdobeStock
