Precision Aviation Group, an Atlanta-based portfolio company of private equity firm GenNx360 Capital Partners, has agreed to buy PTB Group, which provides engine support services to the aerospace and defense industries.
PAG said Tuesday it aims to complete the acquisition in the fourth quarter of 2022.
Australia-based PTB is composed of Pacific Turbine USA Group, Pacific Turbine Brisbane and Pacific Turbine Leasing businesses. The company offers aviation supply chain services and maintenance, repair and overhaul support for some aircraft engines produced by Pratt & Whitney and Honeywell (Nasdaq: HON).
“The addition of PTB increases PAG’s repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business,” said David Mast, president and CEO of PAG.
Stephen Smith, managing director and CEO of PTB, said PAG is committed to continuing to expand PTB’s services and products and providing opportunities to its workforce of about 150 employees.