Crosslake Group, a private financial firm specialising in investments in privately held aerospace and defence enterprises, has successfully acquired two prominent maintenance, repair and overhaul (MRO) companies based in South Florida. The acquired companies, Continental Aircraft Support, Inc. (Continental) and Magnum Aircraft Repair Services, Inc. (M.A.R.S.), are now integral members of Crosslake's aftermarket aviation parts investment platform (Parts Platform). Led by Aeromax Industries (Aeromax), the Parts Platform offers tailored customer solutions, including parts manufacturing, repairs and overhauls, spare parts sourcing, parts exchange and comprehensive fleet management programmes.
The collaboration between Aeromax, Continental and M.A.R.S. in MRO repair capabilities is set to provide an unparalleled integrated aftermarket parts strategy to international customers, surpassing offerings from industry giants, according to Frank Cowle, Amplified Strategic Growth, a key player in the acquisition process. Tom Brizes, Executive Vice President of Sales and Marketing at Aeromax, expressed enthusiasm about combining the capabilities and strengths of these exceptional companies to offer a wide range of solutions to their collective customer base.
Crosslake's strategic objective is to position the Parts Platform as a vital and trusted supply chain partner favoured by governments, airlines and aftermarket integrators. The addition of Continental and M.A.R.S. represents a significant step towards achieving this goal.
Grant Dunham, a partner at Crosslake, welcomed the new partners at Continental and M.A.R.S. – Carlos Rodriguez, Luis Ezra, and Sean McGinn. He highlighted their customer-focused approach in building component MRO businesses that strongly align with Crosslake's core values. Dunham expressed excitement about supporting and welcoming the new partners in their continued leadership roles, aiming to take these businesses to the next level.
Founded in 2003 and headquartered in Fort Worth, Texas, with additional offices in Seattle, Washington, Crosslake has a successful track record of investing in various operating companies. The firm provides liquidity to existing owners of aerospace and defence businesses with gross revenues ranging from US$5 million to US$50 million. Beyond capital infusion, Crosslake's investment and operations team actively assists portfolio companies in strategic planning, risk management and finance. Crosslake remains actively engaged in its investment strategy and welcomes discussions with aerospace and defence companies that could benefit from its investment. (£1.00 = US$1.28 at time of publication).
