Weinberg Capital Group and its portfolio company, Aero 3, Inc. said they have acquired the Wheel & Brake Division of Avianor.
The transaction marks the second add-on acquisition for Aero 3 in 2015. In August, the company announced the acquisition of Griffin, Georgia based Accessory Overhaul Group (“AOG”).
Aero 3 is a holding company formed in 2012 to acquire AeroRepair Corp. and Hemico, Inc., sister companies headquartered in Londonderry, New Hampshire with a second facility in Indianapolis, Indiana.
AeroRepair is a Federal Aviation Administration and European Aviation Safety Agency certified 145 repair station and machine shop that specializes in the repair and overhaul of aircraft brakes, wheel assemblies and landing gear. The operations of the recently acquired AOG have been integrated into Aero 3 and the business has been rebranded as AeroRepair.
Hemico manufactures replacement or modified aircraft parts under an FAA Parts Manufacturer Approval certification.
Based in Montreal, Canada with an additional facility in Calgary, Avianor W&B is an independent wheel and brake maintenance facility in Canada, with capacity to overhaul over 10,000 units per year.
WCG is a Cleveland, Ohio based private equity group that invests in middle market companies. WCG focuses on firms where the current ownership and management reinvest in the transaction, and management remains in place, affording current shareholders and management an opportunity to achieve liquidity coupled with ownership continuity.