Macquarie Group has sold Aviation Technical Services (ATS) to members of the current senior leadership team and a handful of experienced aerospace investors. The new ownership group is headed by current president and CEO, Matt Yerbic, and is backed by Wells Fargo, NewSpring Capital and Greenpoint Technologies of Kirkland, Wash.
“Previously, ATS was a small division of a much larger company. This change allows the decision-making to be centralized in one of the largest aerospace and aviation clusters in the world. We believe that this will allow ATS to better react to customer needs and continue our support to the industry. Additionally, as we have begun to expand into more manufacturing, we are clearly in one of the highest demand areas,” Yerbic told AIN.
The purchase will not change how the company operates its core MRO business but it will provide a platform for growth in its airframe, components, engineering and manufacturing business units, Yerbic said. “We are fortunate to have attracted a first-class leadership team over the last couple of years and are positioned well to execute our operational and growth strategies,” he said.