TurbineAero operates at three facilities in the U.S. and one MRO site in Thailand.
In a move pointing to more private equity finance pouring into the commercial aftermarket, auxiliary power unit and engine component maintenance specialist TurbineAero has been acquired by private equity company Snow Peak Capital.
The agreement, announced last week, sees the MRO provider change ownership and come under the control of Boulder, Colorado-based Snow Peak Capital, which focuses on investments into medium-sized businesses in the technology, business services and industrial sectors. Neither party has disclosed the valuation of the deal.
It takes over the independent MRO provider from investment company The Gores Group, which bought out TurbineAero in 2017 from the Triumph Group. The business formerly operated as Triumph Air Repair and Triumph Engines before being rebranded to TurbineAero.
TurbineAero, headquartered in Chandler, near Phoenix, Arizona, specializes in the repair, sale, leasing, testing and certification of auxiliary power units (APUs) and related parts and accessories. Also among its capabilities are coatings applications for new and repaired engine components.
Among the commercial APUs it repairs are the APS3200 found on Airbus A320 family aircraft, Honeywell-manufactured GTCP131 series APUs found on Boeing and Airbus narrowbodies, GTCP660 and PW901A found on Boeing 747 variants.
The company’s physical footprint is comprised of four facilities in Chandler and a newly constructed facility near Bangkok, Thailand. TurbineAero CEO Peter Gille says the acquisition will lead to the next phase of investment and growth at the company.
In a statement announcing the deal, Steve Yager, Managing Partner of Snow Peak Capital, highlighted the longevity of the company and its customer relationships in both commercial and military segments. Meanwhile, Anthony Chirikos, Partner at Snow Peak, added: “We have developed a strong relationship with TurbineAero's management team, and we're confident that the business will flourish as the company expands to support the evolving needs of its customers.”
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