First Aviation Services Inc. ("First Aviation") was established in June 1995 by First Equity Group to acquire National Airmotive Corporation (“NAC”) from Triton Group Ltd.
In March 1997, 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.
In 1999, API expanded into Canada, forming Aerospace Products International Ltd. In 2000, API expanded again, into the Asia Pacific market, forming API Asia Pacific Inc., and in 2006 API established operations in Shanghai, China.
In December of 2009 First Aviation acquired Kelly Turbine Rotables, Inc. (KATR) the repair and overhaul subsidiary of Kelly Aerospace Inc., renamed Aerospace Turbine Rotables, Inc. (“AeTR”). AeTR is best known for its leadership in the overhaul and repair of landing gear, hydraulic, pneumatic and electrical components as well as brakes and hose assemblies for corporate, military and regional aircraft. Also in December 2009 First Aviation acquired from TAT Technologies Ltd. (NASDAQ: TATT) its wholly owned subsidiary Limco-Piedmont’s propeller overhaul division, named Piedmont Propulsion Systems, LLC (“PPS”). In March 2013 First Aviation sold the majority of its interest in API to Cleveland-based private equity firm Resilience Capital Partners. First Aviation still owns a minority interest in the company.
Today, First Aviation Services Inc. is a leading provider of repair and overhaul, rotables management and related engineering services to the aviation industry worldwide. First Aviation’s principal operating subsidiaries are Aerospace Turbine Rotables Inc. in Wichita, Kansas, and Piedmont Propulsion Systems, LLC in Winston-Salem, North Carolina. First Aviation also owns a minority interest in Aerospace Products International Inc., based in Memphis.