Trinity Hunt Partners Invests in Ranger Aerospace to Support Acquisition of Texas Aviation Services

Private Equity Firm Adds Growing Aerospace Platform
to its Portfolio

Trinity Hunt Partners has invested in Ranger Aerospace & Aeronautics Inc., an aerospace holding company, in support of Ranger’s acquisition of Texas Aviation Services (TAS), a leading rotorcraft services company based in Fort Worth, Texas.  This transaction represents the first in a series of expected aerospace acquisitions for Trinity Hunt in partnership with Ranger Aerospace.

Trinity Hunt is the majority institutional shareholder of Ranger Aerospace, led by Steve Townes, a veteran aerospace executive, and Brian Nerney, a proven dealmaker in the aviation industry.  Previously, Townes led the acquisition and growth of Keystone Helicopter Corp., where he tripled the company in size and profits and later sold Keystone to the Sikorsky division of United Technologies.

“Trinity Hunt is pleased to announce a new platform investment in the aerospace industry,” said Dan Dross, partner of Trinity Hunt Partners.  “We are attracted to the rotorcraft sector’s positive dynamics with record OEM backlogs and higher utilization rates and the opportunity to partner with the seasoned team at Ranger Aerospace.”

For more than 36 years, TAS has specialized in helicopter and aircraft completion, and MRO services.  TAS focuses one-third of its efforts on military helicopter retrofit programs and two-thirds on domestic and international civilian helicopter completions.  

“We expect to develop Texas Aviation Services by expanding its military programs, investing in deeper technical capabilities and expanding its facilities,” said Townes, chairman and chief executive officer of Ranger Aerospace.

TAS was founded by Carl “Woody” Woodard and his son, Tim Woodard, who are both stockholders in the new enterprise.  Tim Woodard, long-time president of TAS, will continue to lead TAS, and current officers will remain in their same roles.

“Partnering with Trinity Hunt and Ranger Aerospace allows us to grow beyond our expectations with additional resources and industry expertise,” Tim Woodard said.

About Trinity Hunt

Trinity Hunt Partners is a Dallas-based, regionally focused private equity firm specializing in leveraged acquisitions, recapitalizations and late-stage growth financings of established middle-market companies with enterprise values between $15 million and $150 million in the areospace services, niche manufacturing, business services, healthcare, media and consumer products industries. For more information on Trinity Hunt Partners, visit www.trinityhunt.com.