Stevenson completes sale of Aircraft Propeller Service, Inc. (APS)

Stevenson completes sale of Aircraft Propeller Service, Inc.

Result: Business Sold to Financial Buyers

Industry: Aerospace – Aircraft Component Maintenance, Repair and Overhaul (MRO) Services Company

Stevenson & Company completed the sale of Aircraft Propeller Service, Inc. (APS), headquartered in Wheeling, Illinois, to Iron Range Capital Partners (Iron Range) with financing provided by various sources.

Founded over 60 years ago, Aircraft Propeller Service, Inc. is a leading provider of aircraft propeller system MRO services to the regional, commercial, military and general aviation markets.  Primary services include: MRO of aircraft propeller systems, selling of new and reconditioned OEM propeller system parts, light part manufacturing and customer training services.

Stevenson & Company was retained as sale advisor and identified, evaluated and marketed to both strategic and financial buyers.  This effort resulted in over 150 interested parties and secured over thirty competitive offers for the company.  Iron Range was identified as an attractive suitor by its commitment to partner with the CEO to pursue significant growth opportunities.  The all cash transaction allows APS to accelerate its growth plans while providing liquidity its ownership.

Mark Grant, CEO of APS, commented:  “We are thrilled with the results and very happy we chose Stevenson and Company as our advisor.  We encountered a number of unexpected industry, financial and unique negotiating challenges during the process that Stevenson successfully navigated.  They were by our side every step of the way and crucial to meeting our personal and financial objectives.  The future for the company and employees looks very bright and we look forward to working with our new partners.”