News from AGC Aerospace & Defense
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November 15, 2010
AGC Aerospace & Defense Appoints President of Growing Finance Group
AGC Aerospace & Defense has named skilled aviation and finance executive, Timothy Wilson, to lead the AGC Finance group.
“Tim brings with him the right balance of finance, aviation expertise, sales, and asset valuation in the general aviation, commercial, and military markets both domestically and abroad,” commented Rick Nagel, partner at AGC Aerospace & Defense, “We’re pleased to welcome Tim to the AGC Aerospace & Defense family.”
Wilson comes to the AGC Finance group from the M&I Marshall & Ilsely Bank, a Fortune 500 banking institution, where he spearheaded the successful launch and development of its business aviation finance initiative. Wilson’s experience includes oversight of aircraft evaluations and appraisals – both medium and light business aircraft – in addition to large cabin business aircraft such as Citation X and Gulfstream IV & V. With his early career spent at the Cessna Finance Corporation, Wilson’s experience also includes piston and turbine engine aircraft evaluation and financing.
“AGC Finance Group will specialize in transactions between $500,000 and $3,000,000, focusing on both new and used turboprop and small to medium sized jet aircraft,” remarked Wilson.
The AGC Finance Group supports general aviation, commercial, and military customers with the financing of aircraft, aircraft engines, maintenance, and upgrades. The company’s extensive background in aircraft modifications, upgrades, and maintenance provides the ability to finance complex transactions.
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Commuter Air Technology Dedicates Training Center to Fallen Special Operations Forces Warrior
Commuter Air Technology (CAT), an AGC Aerospace & Defense company, dedicated the CAT Intelligence, Surveillance, and Reconnaissance (ISR) Training Center to the memory of fallen warrior Staff Sergeant Kerry W. Frith, U.S. Army.
“We dedicate this training center in remembrance of SSG Frith, a man who served this country with honor and distinction in an elite military unit,” commented Darryl Wilkerson, AGC Integrated Defense Group President, during the dedication ceremony.
CAT opened the ISR Training Center earlier this year in support of special mission activities to teach airborne ISR Initial Qualification Training. With the majority of the training center’s management and support staff coming from Special Operations Forces, the focus is on teaching airborne sensor operators how to maximize full motion video, SATCOM communication equipment and networks, and other situational awareness tools to provide critical operational information directly to troops on the ground.
“When we read about SSG Frith, we knew immediately that the training center should be dedicated to his memory,” stated Gary Ambrose, CAT Vice President of Operations. “He served in a special operations aviation unit, and he had an Oklahoma connection. He also served in the Philippines and CAT has provided support there.”
“We are humbled, honored, and grateful to be permitted to dedicate our training center in his name,” continued Wilkerson. “SSG Frith gave selflessly of himself and his memory serves to inspire and remind us of the courage, commitment, and sacrifice that the men and women of our armed forces have made and continue to make.”
Frith was assigned to the 160th Special Operations Aviation Regiment, the Night Stalkers. He had deployed numerous times in support of Operations Desert Shield/Desert Storm, Operation Gothic Serpent, and Enduring Freedom. Frith earned numerous awards and decorations during his military service.
Commuter Air Technology (CAT) focuses on delivery of certified aircraft and aircraft modifications, including high performance and flight characteristics enhancements, commuter and high-density passenger systems, military and special missions systems and support, corporate reconfigurations, and cargo conversions. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.
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Unitech Awarded V-22 Osprey Contract
Unitech Composites and Structures, Inc. (Unitech), an AGC Aerospace & Defense Company, has been awarded a contract to produce lightweight, insulated ducting components for the V-22 Osprey Environmental Control System (ECS). The company recently completed tooling of the production line and will commence full production next quarter.
“Unitech is honored to work with Boeing on this new, thermally insulated ducting system for the V-22 program,” stated Alan Haase, President of Unitech and the AGC Composites Group. “This system will provide an improved operating environment for our soldiers. And, providing a high quality product that helps our military is extremely important to us.”
Unitech, using advanced composite materials and novel integrated insulation techniques, will deliver a thermally sensitive ducting product that is also lightweight. The new ECS design is backward compatible, so it can be used with older, currently fielded support systems. This technology is also available and being evaluated for other platforms.
The V-22, the first tiltrotor aircraft to be fielded in the military, is a hybrid aircraft, combining selected capabilities of an airplane and a helicopter. The airframe incorporates state of the art materials and structural designs which increase reliability and reduce weight.
Unitech Composites & Structures designs and manufactures composite structures in the commercial and military aerospace industries. The company maintains continued commitment to innovation, quality, and flexibility towards the requirements of individual airlines and OEMs. Unitech operates within the Composites Group of AGC Aerospace & Defense.
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AGC Aerospace & Defense Launches Engine Leasing Program
AGC Aerospace & Defense announced the launch of an aircraft engine leasing initiative with the closing of its initial aircraft engine purchase and leaseback transaction with GE Aviation. The program, marketed under the name Aircraft Logistics Group, will be led by industry veteran Lee Beaumont.
“We are pleased to be partnered with Lee Beaumont in this effort, and to have finalized our first deal with GE Aviation,” commented Rick Nagel, partner at AGC Aerospace & Defense. “We’ve built a solid and well capitalized foundation for our engine leasing strategy, allowing us to focus more resources in this resurging sector.”
In conjunction with portfolio company Aircraft Logistics Group (ALG), AGC Aerospace & Defense provides industry and government customers alternative leasing and financing solutions for aircraft, systems, engines, and integrated special mission aircraft deployed around the globe. ALG has been in operation since 2007.�
Beaumont, an AGC Aerospace & Defense advisory board member since 2006, will lead the consolidated leasing effort.
“The time is right for a robust program like this to be brought to the market,” remarked Beaumont. “I am delighted to be working with AGC Aerospace & Defense given their commitment to the sectors I’ve served for so long.”
Beaumont most recently served as Chief Operating Officer at Willis Lease Finance Corporation (WLFC), one of the largest independent lessors of aircraft turbine engines worldwide. He also served as President of U.S. Operations at Standard Aero, one of the largest independent engine maintenance, repair, and overhaul providers in the world.
Aircraft Logistics Group (ALG) provides both aircraft and engine leasing solutions to industry and government customers worldwide. ALG operates within the Finance Group of AGC Aerospace & Defense.
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AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems, and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups: Composites, Finance, Integrated Defense, and Services.
