Precision Aviation Group, Inc. enters into a definitive agreement to acquire PTB Group

August 22, 2022

inline_904_http://www.precisionaviationgroup.com/wp-content/uploads/2022/08/Pacific-Turbine-SM-300x200.jpgAtlanta, GA – August 22, 2022 – Atlanta-based Precision Aviation Group, Inc. (PAG), a leading provider of products and value-added services to the aerospace and defense industries, announces that they have entered into a definitive agreement to acquire PTB Group (PTB).

PTB provides maintenance, repair, and overhaul (MRO) services on Pratt & Whitney PT6 and Honeywell TPE331 engines, leases engines and airframes, and provides aviation supply chain services. PTB is made up of the following entities: Pacific Turbine USA Group (a/k/a Prime Turbines) with locations in Texas, Arizona, Florida, and Pennsylvania, and Pacific Turbine Brisbane and Pacific Turbine Leasing, both in Brisbane, Australia and International Air Parts located in Sydney, Australia. The agreement is subject to shareholder approval and is currently scheduled to close in the 4th quarter of 2022.

“We are excited about adding PTB to the Precision Aviation Group of Companies. The addition of PTB increases PAG’s repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business. Stephen Smith and his team – like PAG – are focused on exceptional customer service and exceeding customer expectations – we look forward to this partnership,” said David Mast, President and CEO of PAG.

Stephen Smith, PTB’s Managing Director and CEO said, “We are pleased to enter this binding transaction with PAG and believe they will be a good future owner of the Company, who will be committed to continuing to expand our products and services and ensuring continued opportunities for our workforce of approximately 150 people. PAG has a shared vision with PTB, and I see an exciting future ahead.”

About PAG

Others Sell Parts, We Sell Support.

PAG is built on the trust of our customers, and our team members are an important part of our successful, growing business that is committed to customer service. We’ve built our legacy on our ability to respond and deliver the highest quality.

At PAG, employees get the exchange of talent, experiences, and resources of multiple companies all while working for one. With 20 Repair Stations, and over 850,000-square-feet of sales and service facilities in the United States, Canada, Australia, Singapore, and Brazil – PAG’s 24 locations and customer-focused business model serve aviation customers through Supply Chain and Inventory Supported Maintenance, Repair and Overhaul (ISMRO®) services. PAG is one of only 11 companies, outside of OEMs, to collectively hold all FAA certifications.

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