New Orleans (October 14, 2013) - LongueVue Capital (“LVC”), a New Orleans-based private equity firm, announced today it has invested both equity and mezzanine capital in Ascent Aviation Services Corporation (“Ascent”), a Federal Aviation Administration licensed provider of maintenance, repair, and overhaul (“MRO”) services for multiple platforms of narrow body aircraft.
Based in Tucson, Arizona, Ascent specializes in heavy maintenance, teardown, storage, and line maintenance services for small to mid-sized operators and leasing companies. Ascent has the capabilities to service the B737, B757, B727, MD-80, DC-9, A320 and CRJ families. The ASCENT facilities located at Tucson International Airport consist of 48 acres of concrete ramp, over 34,000 square feet of hangar space along with 88,000 square feet of backshop and secured warehousing and consignment space in an ideal desert climate.
In addition to acquiring Ascent, LVC will invest growth capital to build a new hangar, improve the existing facilities, and enhance the company’s service capabilities. This investment will enable the company to service additional aircraft platforms and attract a larger and more diverse set of customers, and thus provide for substantial growth in the business.
“Ascent and its highly committed management team have successfully grown the business and established an outstanding reputation for providing exceptional MRO service and support to its customers,” said John McNamara, Co-founder and Managing Partner of LongueVue Capital. “We are excited to partner with Ascent to facilitate its next stage of growth and help the company become one of the premiere narrow body MRO providers in North America.”
Michael Melvin, President of Ascent, comments, “We are excited to partner with LongueVue to continue Ascent’s growth and further build upon our track record for excellent service delivery. This partnership will enable us to expand into A320 family services, build a new hangar and add additional personnel. The company’s workforce, hangars, state-of-the-art paint facility, workshops and warehousing facilities, along with established concrete storage at Tucson International Airport, are a great platform to support our future growth.”
About LongueVue Capital:
Founded in 2001, LongueVue Capital is a New Orleans-based private equity firm that focuses on providing human capital, financial capital, and a skill set built upon a successful 18-year track record of partnering with entrepreneurs and management teams to drive value creation in middle market companies. Having managed over $500 million of capital spanning three funds coupled with 150 years of combined operating and investing experience, our team is the ideal partner for middle market companies at inflection points and seeking to maximize value.
Our opportunistic investment strategy provides the flexibility to partner with attractive businesses across a variety of industries and situations, and we tailor transaction structures to meet the company and stakeholders’ objectives. While we are selective with our investment strategy, we target growth-oriented companies with scalable, sustainable business models and exceptional leadership teams.
Our proactive, hands-on approach enables us to be thoughtful stewards of our portfolio companies and trusted and dependable strategic partners to all stakeholders. Together with our entrepreneur and management team partners, we help create superior value for our portfolio companies and investors.
To learn more about LongueVue Capital, please visit our website at www.lvcpartners.com.
For inquiries, please contact email@example.com or call 504.293.3600.
LVC is headquartered in New Orleans and maintains an office in Park City, UT to help us provide national coverage for transaction sourcing and portfolio company support.
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