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., a government outsourcing contractor specialized in airfield services and logistics.
Ranger's newest investment platform is called Ranger International Services Group, Inc. (RISG), which acquired a majority stake in CAV International in the 1st quarter of 2009.
Formed and led by Steve Townes, a veteran aerospace CEO, RISG plans investments and acquisitions as the holding company expands its base.
"Starting with CAV International, we intend to grow the largest and best independent airfield services & logistics company in the industry," said Townes.
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. ASIG, later sold in July 2001 to a giant British conglomerate, is now one of the largest aviation services companies of its type.
CAV International operates in the growing military outsourcing arena, specialized in airfield services.
Investors in Ranger International include First New England Capital, Ranger Aerospace LLC, Ranger's management, and other private investors who joined the firm via a private limited partnership. The group anticipates bringing on other institutional shareholders to support future add-on acquisitions.
The majority investor is First New England, a private equity fund that provides direct investment capital for small and middle market businesses.
For more information see www.rangeraerospace.com and www.cavint.com.
