New Orleans based private equity company LongVue Capital announced its investment in both equity and mezzanine capital in Ascent Aviation Services Corporation. AASC is a FAA licensed provider of maintenance, repair and overhaul services for multiple areas in narrow body aircraft.
Aside from the acquisition of Ascent, LVC would be investing in growth capital to build a hangar, upgrade current facilities and enhance the company's service capacities. These improvements would serve to help the company in enhancing its services through the attraction of a more diverse set of customers and provide for substantial growth in the business.
According to LongVue Capital co-Founder and Managing Partner John McNamara, "Ascent and its highly committed management team have successfully grown the business and established an outstanding reputation for providing exceptional MRO service and support to its customers. We are excited to partner with Ascent to facilitate its next stage of growth and help the company become one of the premiere narrow body MRO providers in North America,"
Join the Conversation