Ranger Aerospace, a private equity consolidator currently specializing in investments in the rotorcraft services industry, has teamed with Heli-X for the acquisition, refurbishment, and re-sale of turbine powered high-end helicopters for domestic and international helicopter customers and fleet operators. Heli-X (Helicopter Exchange, Ltd.) is a DFW-based helicopter sales and brokering company that is considered by Ranger's capital partners as an expert in rotorcraft appraisals and transactions. The business model for this venture is based on mutual sharing of risk and profit. On a preferred but non-exclusive basis, Heli-X will source helicopter transactions; Ranger and its institutional partners will fund both the equity and the senior floor financing for helicopter purchases that are acceptable to Ranger's board. On a preferred but non-exclusive basis, Ranger's helicopter overhaul and completion subsidiaries will then perform refurbishments to the project helicopters. Heli-X will then re-market the upgraded helicopters to its worldwide array of customers, and Heli-X and Ranger will share in the profits upon resale, commensurate to their respective risks. The venture is designed to expand the sales reach for Heli-X, and provide additional MRO/Completions projects for Ranger's subsidiaries. Ranger's equity capital partners will have certain minimum levels of return predicted in each acquisition and resale, after repayment of senior financing to Ranger's bank lenders.

Steve Townes, CEO and founder of Ranger Aerospace, said: "We are proud to partner with Heli-X. They are experts in this field. We hope to do a lot of helicopters with them this way, and the ultimate beneficiary will be our mutual customers." The completions and refurbishment projects would be accomplished by Texas Aviation Services at Meacham Field in Fort Worth, TX. TAS is an award-winning 37 year old helicopter technical services company that specializes in civilian completions and military retrofits. The Fort Worth helicopter depot is 140,000 sq ft of hangars and shops, all integrated into a cohesive technical services center that won the FAA's "Diamond Award" in 2007.

Chuck Hallett, one of the partners of Heli-X, said: "We are very excited about our partnership with Ranger Aerospace and closer ties with Texas Aviation Services. It is an important strategic relationship that will provide Heli-X the financial resources and access to additional partners to expand our capabilities to compete in a global aircraft market." Chuck Hallett and Tom Larsen launched Helicopter Exchange, Ltd., in August 2002 with a commitment to quality, value and customer satisfaction. An organization guided by executive principals with decades of experience, Helicopter Exchange, Ltd., specializes in assisting buyers and sellers in the acquisition, customizing and sale of new and pre-owned helicopters. Through over 50 years of combined hands on experience as rated helicopter pilots, sales and marketing executives, and entrepreneurs, Heli-X has built an industry reputation for highly effective helicopter sales and brokerage. The Heli-X team stays with the customer's helicopter through the delivery or sale, as an integral manager of the whole process. Helicopter Exchange, Ltd. presents a complete choice in helicopters representing all major manufacturers and models. Expertise includes Agusta, Bell, Eurocopter, MD, and Sikorsky Helicopters. Larsen said, "Customers can have confidence that from day one, Helicopter Exchange, Ltd. will use our many years of experience to help them make the right decision on selecting the helicopter that best meets their requirements."

Ranger Aerospace, with offices in Irving, TX, is a privately held investment and management holding company that partners with private equity institutions to acquire and grow companies in aviation services and aerospace support operations. 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.