in a large number of transactions
across a wide spectrum of industries
FORT LAUDERDALE, Fla. (January 14, 2009) -- Fort Lauderdale-based investment banking firm Farlie Turner & Co. announced today that it had served as exclusive financial advisor to Aviation Power & Marine, Inc. (AP&M) on its recent sale to Chicago-based private equity firm Pfingsten Partners. AP&M, a Boynton Beach, FL-based distributor of aeroderivative gas turbine engine parts and related services, is the world’s largest independent aeroderivative parts distributor, providing over 13,000 parts and on-site field services to operators in a variety of end markets: electrical utility and power generation; naval and commercial marine propulsion; pipeline transmissions; and offshore platform enterprises. AP&M also supplies parts to repair facilities around the world and coordinates gas turbine engine leases and component repair services.
Farlie Turner & Co. provides merger and acquisition, private placement and financial advisory services to middle market companies. Please visit www.farlieturner.com for more information.
“Pfingsten Partners was the ideal buyer for AP&M. Their operational and financial expertise, combined with the Company’s strong presence in a large and fragmented market, will enable AP&M to capitalize on the many growth opportunities available to it,” said Craig Farlie, Managing Director of Farlie Turner & Co. “Farlie Turner & Co. was with me every step of the way and tirelessly advocated my interests throughout the sale,” said Dawn Mazer, AP&M’s President. “They ran a comprehensive process, and identified and recommended a private equity partner which successfully completed the deal in the midst of an exceptionally challenging transaction environment.”
The sale closed on December 31, 2008; financial details were not disclosed. The transaction represents the third transaction Pfingsten closed in the fourth quarter of 2008 and the twelfth investment platform in Pfingsten’s $285 million Fund III.
About Farlie Turner & Co.
Farlie, Turner & Co., LLC, and its affiliate Bayshore Partners, LLC, a broker-dealer registered with the FINRA, provides growth-oriented middle market firms with merger and acquisition, private placement, and financial advisory services. In addition, the firm’s Special Situations Group provides a full range of investment banking services to middle market companies experiencing financial difficulties, ranging from underperforming companies to those in significant distress. Please visit www.farlieturner.com for more information.
About Pfingsten Partners
Pfingsten Partners is an operationally focused private equity firm founded in 1989. From its headquarters in Chicago and offices in Hong Kong and Shenzhen, China, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten Partners has acquired 64 manufacturing, distribution and business service companies. For more information, visit www.pfingstenpartners.com.