NEW YORK, Nov. 14, 2023 /PRNewswire/ -- GenNx360 Capital Partners is pleased to announce that its portfolio company, Aero 3, Inc. ("Aero 3"), has acquired Skywheels, Ltd. ("Skywheels" or "the Company"). Headquartered in Cheshire, England, Skywheels is a provider of wheel and brake repair and overhaul services for the global aviation industry. Founded in 1996, Skywheels services all aircraft types and OEM systems, and focuses on the UK and European markets.
Skywheels will become part of Aero 3, consisting of AeroRepair, Aircrafters and Hemico. The AeroRepair companies provide full-service aircraft wheel, brake, battery and landing gear repair and overhaul services for the commercial, corporate and general aviation industry. Aircrafters is an aftermarket distributor of Collins wheel and brake material and maintains an extensive parts inventory and rotable exchange pool to service the global aircraft market. Skywheels will join Aero 3's ten (10) North American locations and become the platform to further expand Aero 3's presence in the UK and EMEA markets.
"We are excited that Aero 3 has selected Skywheels to be their UK and European partner. Skywheels is an established and respected provider of comparable services and will be a perfect launch pad for Aero 3. Our management teams have been familiar with one another for many years and share a similar culture and goal to be the premier service provider in our respective markets," said Neil Morris, co-owner of Skywheels. Mr. Morris added, "The collective services offered by the combined entities and global reach will be of great value to their growing customer base."
"Our Aircrafters division has grown exponentially in the UK and our acquisition of Skywheels demonstrates our intention to provide the same comprehensive array of services in the UK and Europe that we provide in North America. Our UK and European customers can now streamline their supply chain by utilizing a single source for their wheel and brake parts, repair and overhaul and exchange pool needs. We are excited to welcome Skywheels' leadership and skilled technicians to our growing global family," added Daniel Bell, Chief Executive Officer and President of Aero 3.
Daphne Dufresne, the GenNx360 Managing Partner who leads the Aero 3 investment said, "We are pleased to assist the Aero 3 team on its continued positive growth trajectory. The Skywheels acquisition is highly strategic. We are excited about the expansion of Aero 3 into the UK which will enable us to better serve our global customer base."
The GenNx360 Aero 3 team includes Pratik Rajeevan, Principal and Peter White, Vice President.
About Aero 3, Inc.
Aero 3, Inc. is the parent company of AeroRepair, Aircrafters, and Hemico. AeroRepair is a leading independent maintenance, repair and overhaul ("MRO") platform in North America with a focus on wheels, brakes, batteries and landing gear. AeroRepair services a highly attractive and diverse group of mainline and regional airlines, cargo and charter operators and corporate fleets throughout its network of ten (10) North American facilities. Aircrafters is an aftermarket distributor of Collins wheel and brake materials, maintaining one of the largest rotable exchange pools of in-stock wheel and brake components and assemblies and is a global trader of related components. Hemico is a PMA engineered solutions provider for non-wheel and brake components for the aviation industry. Aero 3 companies provide wheel and brake solutions, including asset management and logistics services through their company owned fleet of trucks servicing their North American network. For more information, please contact [email protected].
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on investing in middle market business services and industrial companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries, with the objective of implementing and supporting value enhancing organic and inorganic initiatives to accelerate growth, deliver efficiencies and generate strong financial returns. GenNx360 was founded in 2006 and is headquartered in New York City. For more information, please visit www.gennx360.com.
For media inquiries about this press release, please contact:
GenNx360 Capital Partners
Carmen Rojas, Director of Investor Relations
Email: [email protected]
Tel: +1 212.257.6772
SOURCE GenNx360 Capital Partners
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