About FAvS

History & Profile

First Aviation Services Inc. ("First Aviation") was created in June 1995 by First Equity Group ("First Equity") to acquire and hold National Airmotive Corporation (NAC) from Triton Group Ltd. First Equity Group is an investment firm specializing in the aerospace and defense industries.

In March 1997, First Aviation completed an initial public offering of its common stock (the "Offering"). The net proceeds from the Offering were approximately $35 million. First Aviation is listed on the Nasdaq exchange under the symbol FAVS. Simultaneous with the completion of the Offering, First Aviation acquired the assets of Aerospace Products International, Inc. ("API" - formerly Aircraft Parts International Combs, Inc.) from AMR Combs, Inc., a subsidiary of AMR. API is located in Memphis, Tennessee. In November 1999, NAC was sold to Rolls-Royce North America, Inc. for an adjusted sales price of approximately $71 million.

In 1999, API expanded into Canada, forming Aircraft Products International Ltd. In 2000, API expanded again, into the Asia Pacific market, forming API Asia Pacific Inc., which is located in the Philippines.

First Aviation, together with its subsidiaries (collectively "FAvS"), is one of the leading suppliers of aircraft parts and components to the aviation industry worldwide, and is a provider of third party logistics and inventory management services to the aerospace industry. API distributes the products of over 150 parts and component manufacturers and suppliers. In addition, API offers brake and starter/generator overhaul services, and is a Federal Aviation Administration authorized hose assembly facility. Customers of FAvS include passenger and cargo airlines, fleet operators, corporate aircraft operators, fixed base operators, certified repair facilities, governments and military services.

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