CHICAGO--(BUSINESS WIRE)--CORE Industrial Partners (“CORE”), a manufacturing, industrial technology, and industrial services-focused private equity firm, announced today it has completed an investment in Aviation Concepts, LLC (“Aviation Concepts” or the “Company”), a provider of mission-critical, rotable components to the aftermarket commercial aviation industry. Headquartered in Sunrise, Florida, Aviation Concepts has a global reach via sophisticated logistics partnerships.
John May, Managing Partner of CORE, said, “With more than 30-years of experience, Aviation Concepts and its management team have developed and maintained a partnership-focused approach within the commercial aviation space. The commercial aviation parts and MRO sector has been a key investment thesis for CORE, and now is the time for us to execute on our vision by making a platform investment in Aviation Concepts, which we believe has a differentiated model supported by strong industry tailwinds.”
Founded in 1991 by Dean Wood, President & CEO, Aviation Concepts offers high-quality, nose-to-tail used serviceable material (“USM”) aircraft parts and components with applications across a variety of aircraft fleets. The Company provides quality products, high-level customer service and proven reliability to its global customer base of commercial and freight airlines, maintenance, repair and overhaul organizations (“MROs”) and distributors via its broad product portfolio.
“For more than 30 years, we have focused on providing customers with reliable, high-quality parts in a timely fashion,” said Mr. Wood. “We believe our team has done a tremendous job building Aviation Concepts into a unique player in the commercial aviation industry and I look forward to partnering with CORE for the next chapter of growth for the business.”
Jason Fulton, Partner at CORE, said, “Aviation Concepts is a niche player in a highly attractive industry that has differentiated itself with its strong customer relationships and diverse suite of products. We are excited to partner with Dean and the entire Aviation Concepts team as we leverage our industry knowledge, resources and experience to help expedite the Company’s next stage of growth, expanding its value proposition and market reach through both strategic initiatives and complementary acquisitions.”
Bob Nardelli, Senior Operating Partner at CORE, will become Chairman of the Aviation Concepts Board of Directors.
Winston & Strawn LLP provided legal representation to CORE in the transaction.
ABOUT CORE INDUSTRIAL PARTNERS:
CORE Industrial Partners is a private equity firm with over $700 million of capital commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses with offices in Chicago, Austin and Cleveland. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies. For more information, visit coreipfund.com.
ABOUT AVIATION CONCEPTS:
Founded in 1991, Aviation Concepts is a global distributor of USM components to nearly 500 customers within the aftermarket commercial aviation industry such as airlines, MROs and distributors. Headquartered in Sunrise, Florida, Aviation Concepts offers a wide range of USM components including avionics, rotable components, actuation systems, hydraulics, landing gear, auxiliary power units (APUs) and more. For more information, visit aviationconcepts.com.
