|
Fort Lauderdale, FL, July 11, 2001
- Ranger
Aerospace Corp. (“Ranger”), parent company of Aircraft Service
International Group, Inc. (“ASIG”), has successfully completed its sale
to BBA Group PLC (“BBA”). The
cash acquisition of Ranger stock includes the assumption of ASIG bonds and
the repayment of debts.
Steve Townes, President & CEO of ASIG and
founder of Ranger, said, “This combination creates one of the largest and
strongest aviation services firms in this industry.
Our hundreds of airline customers and thousands of outstanding
employees will be advantaged in many new ways by this powerful merger.”
Townes retains personal rights to the name, worldwide trademarks, and
certain other intellectual property of “Ranger Aerospace” for future
business ventures.
ASIG has operated for over 50 years as one of the
largest independent airfield services companies in the world.
ASIG has substantial ground handling and fueling operations with 65
business units in 50 cities in North America and Europe.
ASIG employs over 4,000 aviation service professionals.
The company is pursuing aggressive strategies for Total Quality, and
service expansions in new cities. ASIG
and its subsidiaries are owned by Ranger Aerospace Corporation.
BBA Group, PLC, is a
publicly held corporation traded on the London stock exchange. The Group’s companies are engaged in providing products and
services to the specialty materials and aviation industries.
BBA Aviation, a division of BBA Group, PLC, serves the world’s
business aviation, regional airline, helicopter and commercial aviation
markets through its primary operating companies and their subsidiaries that
in addition to ASIG include: Dallas
Airmotive; Signature Flight Support; Signature Combs Aircraft Sales;
International Turbine Service; APPH Group; Ozone Industries; H+S Aviation;
Precision Avionics and Instruments; Oxford Aviation and Signature Aircraft
Engineering.
Signature Flight
Support, headquartered in Orlando, Florida, is the world's largest fixed
base operator (FBO) and distribution network for business and commercial
aviation services with 50 facilities throughout the United States, Europe
and Asia.
Ranger Aerospace,
headquartered in Greenville, South Carolina, is a privately held investment
and management holding company with large financial institutions, venture
capital entities, and management as shareholders.
Ranger and its shareholders add value to acquired companies via
seasoned veterans who are experienced in aviation services, aerospace,
engineering, finance, MIS, marketing, total quality management, leveraged
buyouts, mergers & acquisitions, organizational development, post-merger
integration, and turnarounds.
<<
Photo Available>>
For
more information visit www.asig.com
and
www.bbagroup.com
|