October 18, 2013
The new ownership at Ascent Aviation Services plans to ramp up the Tucson, Ariz.-based repair station’s capacity and capabilities, adding a new hangar and full heavy-maintenance support for several models, including the Airbus A320.
Ascent was recently purchased by private-equity firm LongueVue Capital (LVC). The facility’s existing capabilities include full Boeing 737 and DC-9/MD-80 ratings and limited ratings for the Boeing 757 and Bombardier CRJ200. Ascent also offers line maintenance, painting and aircraft storage.
The new hangar and improvements to the company’s existing facilities spearhead an effort to add heavy-maintenance support for the 757 and CRJ in addition to Airbus narrowbodies.
LVC executives say the groundwork is in place to add additional high-demand services, including A320-family maintenance for owners and operators that lean on third-party aftermarket support.
“We viewed the company as a top-tier, well-managed operator in the market serving small to mid-sized operators and lessors,” LVC Vice President Peyton Bush tells Aviation Week. “We also felt their business model was well-positioned to capitalize on current industry trends, while also enabling it to withstand a potential downturn in utilization.”
“We intend to complete the addition of heavy-maintenance capabilities for the A320, 757 and CRJ200 platforms, and will evaluate additional capabilities in conjunction with developing our long-range strategic plan,” Bush says.
LVC, which targets company-specific opportunities rather than industry segments, bought Ascent outright and contributed additional capital for the new hangar and other improvements.