The new company will focus on investments in lower mid-market aerospace segments including precision manufacturing, component overhaul and speciality niche maintenance, repair and overhaul.
A statement from the pair said Ranger AeroSystems would aim to make deals in US-based companies with revenues of at least $10m, scalable operations and management seeking a like-minded growth partner.
Azalea, the lead Investor in the new enterprise, invests in lower mid-market companies with revenues of $10m to $100m to facilitate management buyouts, business recapitalisations, and growth plans.
The firm focuses on manufacturing, business services, and value-added distribution with a special interest in aerospace, consumer packaged goods, healthcare, energy and industrial services.
Ranger Aerospace describes itself as an active player in the consolidation trends affecting the aviation industry.
Since early 1997 the firm has sparked hundreds of millions of dollars in buying, selling, and investing transactions as management stewards.
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