Aviation Technical Services (ATS) changed hands this week, but don't look for many big changes at the Everett, Wash.-based independent MRO.
The new ownership includes President and CEO Matt Yerbic, who joined ATS five years ago after a decade at Alaska Airlines.Investors in the deal include Wells Fargo, NewSpring Capital and VIP aircraft completion center Greenpoint Technologies of Kirkland,Wash. No word on the sale price.
ATS, the former TRAMCO and Goodrich Aviation Technical Services, generates about 65% of its revenue from traditional MRO services, Yerbic told Aviation Week during a sit-down at MRO Americas two months ago. That market is expected to grow steadily, and the company's expansion at Moses Lake this year sets it up to handle more work. The company says it serviced 400 aircraft in 2012 requiring C/D checks, AOG work, or modifications.
The volatility in airframe MRO demand has the company pursuing diversification--and succeeding.Components, already 25% of revenues and growing at 15-20% per year, should continue to thrive, Yerbic said at MRO Americas. ATS serviced more than 4,000 components in 2012.
ATS's differentiator could come in engineering. The company prides its finding fixes to customer challenges--from airframe modifications and interior reconfigurations to developing stand-alone products that make an operator's life easier. One stellar example of the latter is ATS's Cargo Door Armor, detailed in the video below by none other than ATS's new co-owner.