Most Current Case Study: Ranger and its venture capital co-investors began actively seeking acquisitions in the Helicopter Services sector in late 2001. On January 4, 2002, a Ranger-led venture consortium, organized as "Keystone Ranger Holdings, Inc.", acquired Keystone Helicopter Corporation. Keystone is a leading air-medical and helicopter technical services company headquartered near Philadelphia, with a large fleet of heavy jet turbine helicopters operating at 32 locations in a multi-state area in the Northeastern USA, plus a broadly capable maintenance and engineering base in West Chester, PA. With the goal of segment consolidation, as of the Fall of 2005, Ranger had assembled five large institutional investor groups in the helicopter enterprise, built large new facilities for rotorcraft technical services, and acquired Composite Technology, Inc. as part of the continuing corporate development effort. Under Ranger's management and leadership, the business was tripled from under $40 Million to over $125 Million in less than 4 years, and total Enterprise Value was approximately quadrupled. Institutional IRR on equity was exceptionally strong for any aviation enterprise—in excess of 45%.

We are a value adding management and investment company, creating superior shareholder returns through innovative leadership, quality enhancements, and aggressive acquisitions, all aimed at top tier segment consolidation in selected aviation services businesses. We are actively seeking additional acquisitions and mergers in any segment of the aviation services and aerospace support sectors where a consolidation can be achieved.