Resilience Capital Partners Announces Acquisition Of Majority Interest In Aerospace Products International

  Resilience Capital Partners Announces Acquisition Of Majority Interest In
                       Aerospace Products International

PR Newswire

CLEVELAND, March 20, 2013

CLEVELAND, March 20, 2013 /PRNewswire/ --Resilience Capital Partners, a
private equity firm focused on investing in lower mid-market companies in a
broad range of industries, has acquired a majority interest in Aerospace
Products International, Inc. (API), a global aviation parts and equipment
distribution and supply chain management firm, from First Aviation Services
Inc. (FAVS.PK).

"Aerospace Products International is well-positioned to take advantage of the
industry's trend toward the outsourcing of after-market product distribution
and other critical functions. We will make a significant investment of capital
to execute on our strategy of enhancing API's capabilities and competitiveness
and build it into a truly great international company," said Steven H. Rosen,
Co-CEO of Resilience.

The acquisition of a majority interest in API is the sixth platform investment
in The Resilience Fund III, L.P. In 2012, Resilience closed the Resilience
Fund III, L.P., with $222.5 million of committed capital.

API distributes aircraft parts and accessories to manufacturers, maintenance
providers and operators of widely used military, commercial, corporate and
general aviation aircraft. API focuses on increasing product availability,
minimizing time-to-delivery and reducing process and working capital costs for
its customers. It also supplies key business data and metrics to help
customers control costs and manage their operations more efficiently. Based in
Memphis, Tennessee, API operates through distribution centers and partnerships
on every continent.

Kenneth C. Ricci, a longtime aviation entrepreneur and Chairman of Flight
Options, and Ulf Buergel, both operating partners with Resilience, will
oversee the investment in API, working closely with the firm's management
team. "Aviation services is a complex and capital-intensive industry, but it
is one that we know well from our other investments," said Buergel. "We have
the experience, management expertise and capital resources to help Aerospace
Products International build upon its strong foundation and benefit from the
growing aviation market."

Andrew Trosper will continue to serve as API's president and chief executive
officer. He took on those roles in June 2012 after serving as API's senior
vice president. Trosper joined API in 2010 after a 22-year career at Honeywell

"Although air travel is increasing as the economy picks up, carriers have not
been buying as many new planes as in the past, and they have outsourced many
functions related to parts and maintenance," Trosper said. "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

Resilience invests in niche-oriented manufacturing, distribution, consumer
product and business services companies located in the Midwest and throughout
North America.

Resilience's portfolio companies include Cleveland-based Flight Options, which
has grown into the world's second-largest private aviation company since its
acquisition in 2008. Recent acquisitions include Canton, Michigan-based Aero
Communications Inc. (formerly Advanced Communications, Inc.), a leading
provider of telecommunications infrastructure services acquired in 2012, and
CR Brands, a West Chester, Ohio-based manufacturer and marketer of branded and
private label household cleaning and laundry products acquired in 2012.

About Resilience Capital Partners

Headquartered in Cleveland, Ohio, Resilience Capital Partners invests in
niche-oriented manufacturing and business service companies located in the
Midwestern and Mid-Atlantic United States with sustainable market positions
and a clear path to cash flow improvement. Resilience targets platform
businesses with $25 million to $250 million in revenues across a broad range
of industries where it can improve a company's operations, competitive
positioning and profitability. Since its founding in 2001, Resilience Capital
has invested in 28 companies under 20 platforms. Its portfolio companies today
employ more than 5,000 people in 14 states and collectively represent over $2
billion in revenues. Resilience manages in excess of $320 million for its
global investor base which includes pension funds, insurance companies,
foundations and endowments, fund of funds, wealth managers, and investment
consultants. For more information, please visit

Contact: Constance Hubbell
         (781) 878-8882

SOURCE Resilience Capital Partners

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