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H.I.G. Capital acquires VAS Aero Services

An affiliate of H.I.G. Capital, a private equity investment firm, has acquired VAS Aero Services from AB Volvo.

Headquartered in Florida, VAS is a provider of aftermarket aviation component services and distribution.

The company was formerly known as Volvo Aero Services. VAS Aero Services sources, warehouses, and markets aftermarket components across a broad range of aircraft and engine platforms and provides related services to airlines, leasing companies, and MRO providers.

“We are very pleased by H.I.G.’s support of the business and will benefit from their commitment to growth,” says Claes Malmros, chief executive officer of VAS. “We will continue to serve our customers with the highest quality services and support and will further expand our market leadership.”

Bret Wiener, a managing director at H.I.G., says: “We view aftermarket aviation component services as an attractive market with strong underlying fundamentals and believe that now is an opportune time in the industry cycle to invest. VAS is the industry leader and we look forward to supporting the Company’s outstanding management team in the next phase of growth for the business. We are also excited to build on H.I.G.’s extensive experience investing in the aviation industry and solidify H.I.G.’s leading track record of completing corporate divestitures.”

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