News

GREENWICH AEROGROUP COMPLETES THE ACQUISITION OF BANNER AEROSPACE

Welcoming the Banner Aerospace team to Greenwich AeroGroup

Thursday June 11, 2009

Greenwich, CT - June 10, 2009 - Greenwich AeroGroup, Inc. today announced that it has completed the acquisition of the assets of Banner Aerospace Holding Company, Inc. and its aviation subsidiaries from its parent, The Fairchild Corporation. 

Jim Ziegler, Greenwich AeroGroup’s CEO, stated, “We are excited to welcome the Banner Aerospace team to Greenwich AeroGroup and look forward to their contribution in further growing and enhancing our aviation business. This acquisition is an important step in our strategy to expand our geographic reach, enhance our core competencies, strengthen our client base, and optimize our ability to deliver value to our customers.” 

Banner Aerospace is a diversified family of companies serving loyal customers worldwide, including OEMs, commercial and regional airlines, air cargo carriers, corporate and general aviation, and FBOs. Banner Aerospace’s products and services are divided into two groups: Distribution and Repair & Overhaul, and are conducted through six operating companies. 

• DAC International, Inc. - Austin, TX
• Matrix Aviation, Inc. - Wichita, KS
• Professional Aviation Associates, Inc. - Atlanta, GA
• Professional Aircraft Accessories, Inc. - Titusville, FL
• NASAM Incorporated and GCCUS, Inc. - San Francisco, CA 

Greenwich AeroGroup is a holding company that owns and operates full service providers of general aviation services including: maintenance and avionics; fixed base operations; aircraft sales, charter and management; interior refurbishment; manufacturing and engineering; and parts distribution. Current locations include: Atlantic Aero, Inc., located at Piedmont-Triad International Airport in Greensboro, NC; Western Aircraft, Inc., located at Gowen Field in Boise, ID; and Summit Aviation, Inc., located at Summit Airport in Middletown, DE.