Stony Point Group Acquires Broadwing Air Repair
Stony Point Group, a private equity and management firm focusing on middle-market companies in the aerospace, defense and industrial sectors, has acquired the assets of Broadwing Air Repair (BAR). The Melbourne, Ark.-based FAA Part 145 repair station provides composite and sheet metal repair and is known for its expertise in flight control surface and door repair. Founded in 2007 by former managers of Boeing’s Melbourne repair station, Broadwing services components for more than 25 different airframes, including those manufactured by Airbus, Embraer, Bombardier, McDonnell Douglas and Boeing. “This acquisition aligns with Stony Point’s strategy of adding high-quality companies that complement our existing portfolio of aviation businesses,” said David Nolletti, Stony Point Group’s vice president of business development. “Broadwing Air Repair’s capabilities and expertise in commercial aviation can clearly be extended to other markets, including military and business aviation, which is consistent with our objectives for organic growth.” In addition to BAR, Stony Point’s portfolio includes Graco Supply and Tect Power and Tect Aerospace. The financial terms of the transaction were not disclosed.