Private investment group announces its acquisition of InterSky Precision Instruments Inc.
Memphis, Tennessee: May 9, 2018. A group of private investors consisting of Bill Beeman, Marcellus Montalvo, Ben Nearn and Keith Merriman announced that they have acquired InterSky Precision Instruments Inc. This stock purchase fits well with the new owners’ strategy to effectively provide Maintenance, Repair and Overhaul services to commercial, military and business aircraft sectors in an ever-expanding aviation market. The recapitalization of the company places InterSky in a strong position to broadly expand its product offerings, improve engineering capabilities, and drive value to both its shareholders and customers. InterSky intends to continue to run operations out of its Memphis Tennessee location.
“Aircraft are exceedingly more complex. The life of aircraft components and airframes are expanding beyond 50 years. In order to keep these components and airframes safe and reliable, the aircraft and components must be rigorously maintained. Our investment in InterSky represents an important strategic opportunity to offer safe, affordable and reliable Repair, Overhaul and Maintenance services, while adding to InterSky’s capacity and geographic presence,” said Bill Beeman, CEO of the newly formed InterSky Precision Instruments LLC.
InterSky Precision Instruments Inc. is recognized internationally as a leading MRO company that provides industry leading cockpit instrumentation and accessory component maintenance. It holds fully rated FAA / EASA instrument, accessory and limited radio ratings. In addition, InterSky offers engineered repair solutions to increase reliability, battle obsolescence and reduce cost and/or turn times. Major customers include Federal Express, The United States Coast Guard, L-3 Technologies and HAECO Americas. Strategically located in Memphis, Tennessee, or “The Distribution Capital of the USA,” InterSky owns an extensive inventory of components and piece parts available for sale or exchange. InterSky also offers rotable inventory for most of the airframes in service today. In addition to providing MRO services, InterSky also houses a world class metrology lab under one roof.