GRAPEVINE, TX, June 15, 2006
— Ranger Aerospace LLC, a privately-held management and investment holding company in the aerospace and aviation sectors, today named Brian Nerney as Partner & Managing Director. Mr. Nerney, a private equity investor and aerospace industry veteran, was most recently Chairman of GreenLeaf, his third successful private equity venture in Texas, a $110 million revenue company that was sold in late 2005.
Ranger Aerospace made the appointment as part of its on-going effort to acquire companies in the rapidly consolidating aerospace and aviation services sectors. Ranger previously acquired, built up, then sold Keystone Helicopter to United Technologies. It is currently involved in negotiations on several potential acquisitions, and seeking others.
Brian Nerney, 52, holds an MBA (with distinction) from the Wharton School at the University of Pennsylvania, and undergraduate and Master's degrees in Aerospace Engineering from Virginia Tech. Prior to GreenLeaf, Nerney was founder and CEO of Clearwire Technologies, a company involved in broadband delivery, and served as chief of corporate development for Sierra Technologies, an LTV spin-off. Nerney spent the first two decades of his distinguished career with LTV Aerospace & Defense, and Vought Aircraft Corporation; both in Dallas. His roles included corporate finance, mergers & acquisitions, and aerospace engineering program management.
Steve Townes, Chairman/CEO and founder of Ranger Aerospace, said: "Brian Nerney brings three decades of proven experience to our team; he is a solid aerospace executive and has proven capabilities in private equity ventures. Our large institutional partners are delighted that he has joined Ranger's senior executive group, as we actively explore new acquisitions." Nerney is also an investor in the group.
Ranger Aerospace LLC (http://www.rangeraerospace.com/ ), headquartered in Dallas/Fort Worth, Texas is a privately held investment and management holding company that partners with private equity institutions, venture capital companies, and management teams for acquisitions. Ranger's previous successful ventures include the buildup and divestiture of Aircraft Service International Group, a company that today employs over 8,000 people in airport services operations across North America and Europe; and Keystone Helicopter Corporation, which Ranger grew into one of the largest independent helicopter technical services companies in the industry. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in aviation services, aerospace programs, engineering, finance, corporate development, MIS, marketing & strategic planning, Total Quality Management, mergers & acquisitions, post-merger integration, and turnarounds. Founder & CEO Steve Townes is a West Point graduate and aerospace entrepreneur.
Forward Looking Statements:
The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that are beyond the Company’s control and may cause actual results to differ materially from management’s expectations. This release includes “forward looking statements” as defined under securities laws, including statements about the future operations of the business. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ from the statements. These include risks and uncertainties inherent in closing an agreed transaction, in realizing the anticipated benefits of combining businesses and in obtaining additional business to increase revenues.
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