Ranger Aerospace has added Argosy Private Equity to its newest platform for pursuing investments and acquisitions in the aerospace industry.
The lead institutional investor in Ranger's latest venture is Azalea Capital. This group seeks accelerated growth in acquired companies through a collaborative partnership with proven management teams. This marks the third time that Ranger and Argosy have affiliated in the past dozen years. Argosy was a major investor in Ranger's previous successes with both Keystone Helicopter and Ranger International.
The teammates have formed a new holding company called Ranger AeroSystems for these pursuits, and the first new investment was accomplished in November 2014. That first majority investment is in a components overhaul and retrofit company serving the commercial airlines fleets. Ranger has historically teamed with multiple Private Equity groups in its largest past ventures, bringing on more capital as each enterprise evolved. Multi-company consolidations are a proven investment method in the aerospace industry, including Ranger's own past build-ups.
These highly experienced organisations are focused on lower middle market aerospace segments such as: Precision Manufacturing; Component Overhaul; and Specialty "Niche" Technical Services/MRO. Preferred investments include: USD10 million minimum revenues, scalable operations, and Management seeking a like-minded partner from the aerospace industry with strong financial backers. Smaller companies will be considered as add-ons to existing Ranger operations. Other segments will be considered if there is a viable consolidation strategy.
Steve Townes, Ranger Aerospace CEO and founder, says: "It's a privilege to have major investors like Argosy join us multiple times – that speaks volumes. Azalea and Argosy are great teammates with Ranger. This consortium of proven experts aims to create a large and lasting enterprise. With two substantial institutional co-investors, we now have plenty of capital and plenty of time for building a strong platform. We've done this before—we're doing it again."
