Wed, Jul 22, 2009
Former ASIG Owner Re-Enters Airfield Services Arena
Ranger Aerospace, a private equity
consolidator that specializes in the aviation industry, has
re-entered the airfield services industry with the majority buyout
of CAV International, Inc. CAV (pronounced as in "Cavalry") is a
government outsourcing contractor specialized in airfield services
and logistics. Ranger's newest investment platform is called Ranger
International Services Group, Inc., which acquired a majority stake
in CAV International in the 1st quarter of 2009. Additional growth
investments and acquisitions are planned for this latest Ranger
build-up. This segment of the government outsourcing sector is
expected to exhibit continued growth in the years ahead. CAV has
enjoyed over 50% compound annual growth rates over the past four
years of 2005-2008.
Ranger International Services Group was formed and is led by
Steve Townes, a veteran aerospace CEO who has successfully led
similar large ventures. Other follow-on investments and
acquisitions are planned as the holding company expands its base,
despite launching this venture in the midst of the current malaise
that is troubling the world's economy. Ranger Aerospace has capital
backing from institutional private equity partners who share
Ranger's optimistic and contrarian vision that now is an excellent
time to be a well capitalized buyer. "Starting with CAV
International, we intend to grow the largest and best independent
airfield services & logistics company in the industry," said
Townes, adding, "We've done this before in our very similar efforts
with ASIG."
Ranger Aerospace owned and grew Aircraft Service International
Group ("ASIG") to 4,250 employees at more than 50 airports in one
of Ranger's previous successful ventures starting in early 1997.
During Ranger's ownership, ASIG was doubled in size and won
numerous quality awards, including best-in-class rankings in
independent surveys of hundreds of airlines.
CAV International operates in the growing military outsourcing
arena, specialized in airfield services. In 2008, CAV performed
over 625,000 man-hours of professional services, handled over
18,000 USAF airplanes across 19 time zones, processed over 850,000
in-transit military passengers, and managed over 140,000 tons of
cargo. The majority of CAV's contracts currently service the US
Transportation Command and Air Mobility Command at numerous
locations. All of DOD's transport-sized aircraft, combined with the
"CRAF" fleet of civilian airliners, together are the primary fleet
that CAV serves with its many capabilities, and that combined
airlift represents, by far, the "largest airline in the world."
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