The agreement for acquisition is subject to shareholder approval and is currently scheduled to close in the 4th quarter of 2022.
Precision Aviation Group, Inc. (PAG), a provider of products and value-added services to the aerospace and defence industries, has announced that the group has entered into a definitive agreement to acquire PTB Group (PTB), an aviation MRO service provider. The agreement for the acquisition of PTB is subject to shareholder approval and is currently scheduled to close in the 4th quarter of 2022. PAG subsidiaries have MRO and manufacturing capabilities on over 150,000 products focused on 4 verticals – Avionics, Components, Engines and Sub-Assembly/DER/Manufacturing Services.
“We are excited about adding PTB to the Precision Aviation Group of Companies. The addition of PTB increases PAG’s repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business. Stephen Smith and his team – like PAG – are focused on exceptional customer service and exceeding customer expectations – we look forward to this partnership,” said David Mast, President and CEO of PAG.
The Pacific Turbine Brisbane or PTB group provides maintenance, repair, and overhaul services (MRO) on Pratt & Whitney PT6 and Honeywell TPE331 engines, leases engines and airframes, and provides aviation supply chain services. PTB is a company made up of the following entities: Pacific Turbine USA Group (a/k/a Prime Turbines) with locations in Texas, Arizona, Florida, and Pennsylvania, Pacific Turbine Brisbane and Pacific Turbine Leasing, both in Brisbane, Australia and International Air Parts located in Sydney, Australia.
Stephen Smith, PTB’s Managing Director and CEO said, “We are pleased to be entering into this binding transaction with PAG and believe they will be a good future owner of the Company who will be committed to continuing to expand our products and services and ensuring continued opportunities for our workforce of approximately 150 people. PAG has a shared vision with PTB, and I see an exciting future ahead.”
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The Precision Aviation Group has 16 Repair Stations globally, and over 650,000 square feet of sales and service facilities. PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain – and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO). PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft. PAG is owned by the global investment firm GenNx360.
