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Tuesday, October 20, 2020
Banking Fort Worth aircraft repair company sold

Fort Worth aircraft repair company sold

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Aviation Technical Services of Everett, Wash., has acquired Texas Air Composites Inc., a Fort Worth-based domestic 145 repair station specializing in structural fabrication, support and repair for regional, commercial and military aircraft. The purchase price was not disclosed. The acquisition will allow ATS to grow and diversify its customer base, capabilities and geographic reach. ATS, home to more than 1,000 employees, principally serves commercial airlines and OEMs, while TAC adds a focus on regional airline and military customers. In addition, TAC specializes in advanced composite repair on Airbus, Bombardier and Embraer fleets, while ATS provides a suite of component, engineering and airframe services on primarily Boeing product lines.

“Texas Air Composites is an impressive addition to the ATS team. Their expertise in composite repair on a wide range of aircraft models pairs well with our proficiency in component, engineering and airframe services,” said Matt Yerbic, ATS President and CEO. “The goal for both ATS and TAC is to share the strengths and best practices between both businesses to offer robust, value-added solutions to our combined customers for years to come.” Texas Air Composites was formed in January 2000 and has 100 employees. The TAC leadership team is staying in place and will continue to run the business as a subsidiary of ATS.

TAC President and CEO Randy Haran said, “As a key supplier, we already have a strong relationship with ATS. We share many core values, especially a commitment to our highly-talented employees who have the passion to provide some of the best service in the aviation industry.” Several partners assisted with the transaction. ATS’ financial advisers were Jefferies LLC and AeroConsulting Partners and legal adviser was WickPhillips. TAC’s financial adviser was FBR Capital Markets and legal adviser was Baker Botts.

Betty Dillard bdillard@bizpress.net  

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