Prior Investments

National Airmotive Corporation

National Airmotive Corporation was a world leader in servicing Rolls-Royce/Allison gas turbine engines and components used in aviation, marine and industrial power generation applications.  NAC had been in operation for 35 years and had a broad customer base of more than 300 operators in over 45 countries.  NAC was a neglected asset and had poor financial performance, with losses of $10 million dollars in the three years prior to the acquisition by FAvS. First Equity created increased revenue and profitability significantly over the 4 years of ownership before selling to Rolls-Royce for $73 million in November 1999

Aerospace Products International Inc.

Aerospace Products International, Inc. (API) was originally formed by a unit of American Airlines that serviced the general aviation market. API’s unique strategy of consolidating all inventory in a Memphis hub was a novel approach at the time and capitalized on the extensive infrastructure developed by FedEx. Originally known as Aircraft Parts Inc., the name was changed after the firm was purchased by First Aviation Services, Inc. (FAvS) in February 1997 to reflect both the expanding product and geographic reach of the company. The small but fast growing unit had double digit growth for many years. FAvS’s strategy was to refocus API from light piston aircraft to corporate turbine and commercial aircraft and to shift from pure consumable distribution to supply chain management. Under FAvS’s guidance API opened facilities in Montreal, the Philippines, Shanghai and initiated partnerships throughout the world. API developed supply chain programs for Rolls Royce, Honeywell, Cirrus, Dassault, Lufthansa and FedEx, among others. API with sales of $70 million in CY2012 was sold to Resilience Capital Partners in March of 2013.

Skip Barber Racing School

For more than 30 years, Skip Barber Racing School LLC has operated a fully integrated system of racing schools, driving schools, racing championships, corporate events and OEM events across North America. The Skip Barber Racing School is held at more than 20 of the most prestigious race tracks in North America, while the Skip Barber Driving School, utilizing Mazda’s performance sedans and sports cars, operates at five world-famous destination locations. The Skip Barber Race Series is collectively five separate open-wheel, equal-car racing championships – four regional amateur series and an entry level pro series: the BFGoodrich/Skip Barber National Presented by Mazda, which awards a $350,000 title bonus. New in 2008 is the Skip Barber MAZDASPEED Challenge, multiple championships using identically prepared MX-5 Miata race cars. All the series are part of Mazda’s unique MAZDASPEED Motorsports Development ladder system. The Corporate Events unit creates custom racing and driving programs for companies of any size that desire special, exciting events to train, entertain, educate and reward. OEM Events provides unique, specialized automotive-related training, analysis, evaluation, logistics and consultation. First Equity sold its interest in Skip Barber in 2009.

Imtek, Inc.

Imtek began as Holladay-Tyler Printing Inc., an old line established printer of high quality magazines, catalogues and specialty products primarily for blue chip customers in the D.C. and Maryland area. Holladay-Tyler was the largest printer in the region after the government printing office. First Equity identified the challenges to Holladay-Tyler very quickly and attempted to work with the four different unions to turn the company around.  Failing the cooperation of the unions, the company was quickly reengineered to be a smaller, nimble and profitable company (Imtek).  The predecessor company, Holladay-Tyler was dissolved.  Imtek went on to purchase D.R. Denman a similar but high tech digital printer of maps, and has carved out a niche as the leading specialty technology and printing company serving the motor club industry.  Imtek was later divested in February 2012 to IBS Direct.

DART Aerospace

First Aviation Services Inc. together with Greenbriar Equity Group, L.P. acquired DART Aerospace. DART provides industry-leading design, manufacturing, and market-certified solutions for the helicopter and aerospace industry. With an impressive line-up of over 1,500 STCs, DART offers a comprehensive portfolio of mission equipment and related services, replacement parts, and tooling for civil and military operators, completion centers, MR&O facilities, and all major rotorcraft OEMs. DART's key products include aerial firefighting systems, flotation systems, landing gear, interior and exterior accessories, cargo expansion, cable cutters, environmental control systems, and ground support equipment. All of DART’s fast time-to-market solutions are delivered with superior customer support in over 120 countries worldwide. DART was divested in May 2022 to TransDigm Group.