Relativity Capital L.P. Acquires Evergreen Maintenance Center Inc.
Relativity Capital L.P. announced today an agreement to acquire Evergreen Maintenance Center, Inc. (EMC) from Evergreen International Aviation, Inc.
Marana, AZ (PRWEB) - Relativity Capital L.P. announced today an agreement to acquire Evergreen Maintenance Center, Inc. (EMC) from Evergreen International Aviation, Inc. Based in Arizona, EMC is the largest aircraft storage and maintenance facility in the world with 20 million square feet of ramp and storage area that accommodates over 400 aircraft. For more than three decades, EMC has been a FAA Approved FAR Part 145 repair station with a FAA Class IV Airframe Rate (#ERKR675D). In addition, EMC has been consistently recognized by the FAA with the esteemed Diamond Award and is a charter member of The Aircraft Fleet Recycling Association (AFRA), which is focused on improving sustainability within the aircraft industry.
Brian Lee, Principal of Relativity, said: "EMC has a long history of providing best-in-class MRO services and that business is well positioned for growth now that it is a standalone company. We also are impressed by its storage facility. This is a truly unique infrastructure asset that allows airline operators to manage their fleet on a just-in-time basis, which is a critical, value-added service offering given the current volatility in both load factors and fuel prices."
Mark Rosema, President of EMC, said: "We are extremely excited to have Relativity Capital invest in our future, especially given their expertise and long history investing in the aerospace sector. We look forward to a long and prosperous relationship with the team at Relativity as we grow our maintenance and storage businesses."
Relativity Co-Founder and Senior Managing Director, Joyce Johnson-Miller said: "EMC is an impressive organization with a proven track record for delivering quality aircraft maintenance and repair services to its customers. We are excited to be in partnership with the EMC management team and we are committed to continuing to support the company through its long-term growth."
About Relativity
Relativity Capital (http://www.relativitycapitalllc.com), with offices in Arlington, VA, New York, NY, and Bloomington Hills, MI, provides private equity capital to companies throughout all stages of the business cycle. Relativity seeks to invest in the aerospace / defense, industrials, and business and healthcare services sectors. Relativity's key investment initiative is to drive operational excellence in partnership with management. The firm's founders, Leslie L. Armitage and Joyce Johnson-Miller, bring over three decades of private equity experience, most of which comes through senior positions at The Carlyle Group and Cerberus Capital Management, L.P.
SOURCE: PRWeb
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