Growing US spares group Aviation Sales (AVS) has emerged as the buyer of Triad International Maintenance (TIMCO), in a move which adds widebody work to its expanding aircraft maintenance portfolio.
AVS will pay $70 million for TIMCO, which was put up for sale by its parent, Primark group, which says that the business is no longer a core activity.
The maintenance unit, of Greensboro, North Carolina, specialises in the overhaul of widebody aircraft, posting sales of $113 million last year. The business has been expanding quickly, however, showing sales of $72 million for the first half of this year.
The TIMCO acquisition, due for completion in mid-October, follows last month's purchase of Aero, which concentrates on heavy maintenance on narrowbody aircraft. Together, TIMCO and Aero give AVS around 130,000m2 (1.4 million ft²) of hangar space.
AVS chairman Dale Baker says that the TIMCO acquisition positions the group to become "a major force in the $17 billion North American aircraft maintenance market".
TIMCO is modifying 10 Boeing 767-200s to freighters for Airborne Express, working with Seattle-based engineering company Flight Structures and cargo handling systems specialist Ancra. Four of the ex-All Nippon Airways aircraft are undergoing modifications at Greensboro, and TIMCO expects to complete the first by the end of the month.
Late delivery of modification kits has delayed supplemental type certification of the aircraft, but that is now expected to take place by December.
Source: Flight International
