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Ranger International Launches 'Ranger TechWorks' for Engineering Services

February 24, 2010

GREENVILLE, S.C., Feb. 24 /PRNewswire/ — Ranger International Services Group, a private equity consolidator specializing in government services, announced today the launch of a new Engineering Services business unit, Ranger TechWorks, to provide comprehensive technical and engineering services and adjunct engineering staffing solutions to branches of the DOD, other Government agencies, OEMs, Prime Contractors, and modification & engineering centers. A full range of engineering disciplines will be made available at customers’ sites, tailored to each customer’s needs and electronically linked with the headquarters in Greenville, SC. Ranger TechWorks, offering quality leadership in engineering services, will operate as a separate wholly-owned business unit of Ranger International. It will be a sister company to Ranger’s other operating subsidiaries, US Logistics and CAV International.

Ranger TechWorks’ President is Steve Hanvey, a well known senior executive in both DOD and Commercial aerospace design and sustaining engineering, testing & certification. He has prior fixed wing and rotary wing experiences that created new engineering solutions and substantial scale at Raytheon Aircraft/Beech, McDonnell Douglas, and Piaggio USA. Hanvey, a graduate of the US Naval Academy at Annapolis, is an accomplished engineering leader, program manager, entrepreneur, and test pilot. Hanvey said: “Ranger TechWorks will help our customers get engineering projects done faster at a lower overall cost. Working in tandem with US Logistics and CAV International, I look forward to serving our customers with higher levels of technical capability and engineering capacity.”

Ranger TechWorks will support customers with creatively tailored and cost effective engineering for new projects, carve outs for product development, subassembly design, modification engineering, sustaining engineering support, certifications and STC’s (supplemental type certificates), or simple staff augmentation to smooth out manning requirements when rapid growth is being planned or reductions have become necessary. Inquiries for support are already being taken by Hanvey at the Greenville SC engineering office.

Steve Townes, CEO of Ranger International and founder of Ranger Aerospace, said: “Ranger TechWorks will give our Prime Contractor and DOD customers a cost-advantaged approach toward getting engineering jobs done faster without investing in excess core staff. We are very fortunate to have an engineering leader as accomplished as Steve Hanvey to lead the charge.”

Ranger is a privately held investment and management holding company that partners with larger private equity institutions to acquire and grow companies in aviation services and aerospace/defense support operations. Ranger and its co-investors add value to acquired companies via seasoned veterans experienced in an array of aerospace/defense operations, business services, and private equity. The head office is in Greenville S.C.

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.

 SOURCE: Ranger International Services Group