Eyeing Piedmont and Limco, Fokker plans expansion
Fokker Services, part of Stork Aerospace, announced it has signed a letter of intent for the acquisition of a controlling (51 percent) interest in Piedmont Aviation Component Services and a 49-percent strategic interest in Limco Airepair. The move is a continuation of the company’s planned expansion into the U.S. aerospace services market. It follows the acquisition of Fairhope, Ala.-based Airinc last July.
Piedmont specializes in the maintenance, repair and overhaul of auxiliary power units, landing gear and propellers. Limco is an OEM/MRO for environmental control systems and components. Piedmont and Limco, both part of TAT Technologies, are expected to be sold for a combined $38.375 million depending on the successful completion of due diligence. Closing is expected in next year’s first quarter.