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, renamed 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.
Today, First Aviation Services Inc. (FAvS), located in Westport, Connecticut, is a leading provider of repair and overhaul, rotables management and related engineering services to the aviation industry worldwide. FAvS’s principal operating subsidiaries are Aerospace Turbine Rotables, Inc. (AeTR) located in Wichita, Kansas and Addison, Texas, Evōlution Aerospace, Inc. in Wichita, Kansas and Piedmont Propulsion Systems, LLC (PPS)in Winston-Salem, North Carolina.