Elodie Collins
Aircraft components and services provider Precision Aviation Group has completed the acquisition of Icon Aerospace and Tag Aero. PAG, a portfolio company of GenNx360 Capital Partners, said Monday that the acquisition will expand its avionics and engine services.
“Icon and Tag joining PAG significantly bolster our Avionics services and engines services businesses with incremental capabilities, which will allow us to better serve our customers with a broader range of repair capabilities,” commented David Mast, president and CEO of PAG.
Icon, headquartered in North Carolina, specializes in the repair of avionics, radios and other instruments and accessories. Tag is based in South Carolina and offers repair and overhaul services for 131, 331 and 85 series auxiliary power units. Both companies have received required accreditations from the Federal Aviation Administration, the U.K. Civil Aviation Authority and the European Union Aviation Safety Agency.
Following the acquisition, customers of both Icon and Tag will get access to PAG’s global network of repair stations.
Pratik Rajeevan, GenNx360 principal who oversaw the transaction, said the acquisition is part of PAG’s effort to expand its repair portfolio and offer better customer service. He also noted that the acquisition is PAG’s ninth since joining GenNx360.
PAG previously acquired the PTB Group, which provides maintenance, repair and overhaul services to Pratt & Whitney PT6 and Honeywell TPE331 engines.
