Resilience Capital Partners invests in Aerospace Products International
Resilience Capital Partners, a Cleveland-based private equity firm, has acquired a majority stake in Aerospace Products International (API), a global aviation parts and equipment distribution and supply chain management company, from First Aviation Services.
Steven Rosen, Co-CEO of Resilience, said: “Aerospace Products International is well-positioned to take advantage of the industry’s trend toward the outsourcing of after-market product distribution and other critical functions. We will make a significant investment of capital to execute on our strategy of enhancing API’s capabilities and competitiveness and build it into a truly great international company.”
The investment will be overseen by Kenn Ricci, owner of Flight Options and Nextant Aerospace, and Ulf Buergel, who are both operating partners with Resilience.
“Aviation services is a complex and capital-intensive industry, but it is one that we know well from our other investments,” said Buergel. “We have the experience, management expertise and capital resources to help Aerospace Products International build upon its strong foundation and benefit from the growing aviation market.”
API has confirmed that Andrew Trosper will continue to serve as the company’s president and CEO, after his promotion from senior vice present in June 2012.
“Although air travel is increasing as the economy picks up, carriers have not been buying as many new planes as in the past, and they have outsourced many functions related to parts and maintenance,” said Trosper. “We have a great market opportunity, and the additional resources that we will have available to us through Resilience ensure that we will be able to make the most of this opportunity.”