Private equity firm Resilience Capital Partners has acquired a majority interest in Memphis-based aviation logistics provider Aerospace Products International (API).
The acquisition of API from First Aviation Services will be followed by a "significant investment of capital" to execute the private equity firm's strategy, Resilience co-chief executive Steven Rosen says.
API is a distributor of aircraft parts and accessories to manufacturers, maintenance providers and operators of aircraft in military, commercial and general aviation market segments. The company also supplies data to help customers manage operations.
Those capabilities position API well to "take advantage of the industry's trend toward the outsourcing of after-market product distribution and other critical functions", Resilience says.
API will continue to be led after the acquisition by current president and CEO Andrew Trosper, who took the job last June after a 22-year career at Honeywell Aerospace.
Airlines are increasingly saving money by outsourcing parts handling and maintenance functions, he says.
"We have a great market opportunity, and the additional resources that we will have available to us through Resilience ensure that we will be able to make the most of this opportunity."