Piedmont Aviation Services, Inc. Acquires Altair Turbine Services, Inc.
Piedmont Aviation Services, Inc., a River Capital portfolio company, has announced its acquisition of Altair Turbine Services, Inc. (“Altair Turbine”). Altair Turbine, based in Quinby, Virginia, is a repair facility for military auxiliary power units. River Capital, headquartered in Atlanta, Georgia, is a private investment firm. The purchase price was not disclosed.
River Capital is one of the oldest firms of its type in the Southeast and has acquired companies in a broad range of industries with combined annual revenues in excess of $600 million. River Capital primarily invests in light manufacturing, distribution and select service companies with purchase prices of $10 million to $50 million. For add-on acquisition candidates, the firm will consider companies with a purchase price less than $10 million.