Private equity firm Greenbriar Equity Group’s investment in STS Aviation Group will help aid the organic growth of the business along with potential acquisitions, according to STS’ CEO.
PJ Anson says the partnership will see STS Aviation Group benefit from gaining a highly experienced aviation advisor and financial partner. “Greenbriar brings a well-respected aviation and airline executive team to the board level that will help expand customer relationships and lead to future growth opportunities,” he says.
No financial information was disclosed by either party in Monday’s (Jan. 7) announcement, but Anson says both companies had been in discussions for a few months prior to agreeing the partnership at the end of last week.
STS is the parent company of several aviation businesses, including component sales and distribution, workforce management, engineering services, line maintenance, and aircraft repair and modifications.
In September 2018, it announced plans to expand into ground support equipment repairs by establishing STS GSE Services in Melbourne, Florida. Since its inception, the GSE business has progressed steadily, according to Anson.
Anson also foresees more growth in STS’ line maintenance business, which has surpassed more than 30 stations across the U.S. and Caribbean over the past few years. The growth of the network was boosted by picking up 17 line maintenance stations divested by HAECO Americas in October 2016 with the company choosing to focus on MRO services and cabin solutions work instead.
“We’ll have two new stations coming online in early February; one in Grand Rapids, Michigan and the other in Boise, Idaho,” Anson says. “STS Line Maintenance’s growth is continual, and we see no signs of that growth slowing down given our new partnership with Greenbriar.”