Field Aviation Company Inc. has been acquired by privately held U.S. company, Amavco Inc., from Field’s parent firm, Hunting PLC. Established in 1947 in Calgary, Alberta, Field Aviation is an international aircraft modification and parts manufacturing company with locations in Toronto, Calgary, Seattle and Cincinnati. The company's products and services are organized around various aviation specialties including: aircraft modification, parts manufacturing, interior modifications and upgrades, avionics service and installation, as well as aircraft sales and leasing. Field Aviation operates from two Canadian production facilities totaling 150,000 square feet, and also has two U.S. offices with its corporate headquarters in Cincinnati, Ohio, and its U.S. West sales office in Seattle, Washington. Field Aviation employs over 260 highly skilled staff across its entire operations.
Commenting on the acquisition, John Mactaggart, president and CEO of Field Aviation said, "Field Aviation has a long-standing and well regarded history in the aviation sector worldwide. Amavco was established with a single purpose to acquire and build companies in the aviation sector. I see this change in ownership as a great opportunity for us all at Field Aviation. With a clear focus from the Amavco board on growing our aviation business, I am very much looking forward to continuing to work with all our dedicated staff, customers and suppliers and continuing to build on the great name of Field Aviation in the coming years.”
The acquisition of Field Aviation will allow Amavco to begin executing its growth strategy in the aviation services sector. Amavco will retain Field’s current senior management following the completion of the acquisition, and will continue to invest in Field’s Canadian operations to drive business improvements, which will benefit both customers and employees. Amavco plans to expand into the U.S. through organic growth and follow-on acquisitions. The company is currently in discussions with several potential acquisition targets and is also in the early stages of identifying possible sites for its first U.S. modification center.
Commenting on Amavco’s plans for expansion in the future, chairman, Dan Magarian, said, “While we fully intend to pursue aggressive growth for our Canadian Operations, we are also excited about the prospects of growth in the U.S. We are looking at suitable sites that will accommodate our needs and provide us appropriate incentives to help us fast-track plans. We expect to add 80-125 new jobs within the first several years of operations in the U.S.”
Source: Field Aviation Company Inc.
Date: Apr 30, 2012