Precision Aviation Group (PAG) has acquired ICON Aerospace (ICON) and TAG Aero (TAG). These strategic moves significantly enhance PAG's capabilities in avionics and engine services while broadening its product offerings within the airline market.
ICON, based in Indian Trail, North Carolina, is a provider of MRO services, focusing on avionics, accessories, and electronics. TAG, located in Rock Hill, South Carolina, is renowned for its MRO services, particularly for auxiliary power units (APUs). TAG offers a comprehensive suite of services that includes repair and overhaul, outright sales, leasing, and exchanges for Honeywell GTCP-85, 131, and 331 Series APUs. The integration of ICON and TAG into PAG will enable the combined customer base to benefit from an expanded range of products and services.
David Mast, President and CEO of PAG stated: “The acquisition of ICON and TAG significantly bolsters our capabilities in our engine and avionics services businesses and provides expanded product offerings for the airline market. The addition of ICON and TAG's skilled workforce of over 200 employees, their experienced leadership teams, and more than 150,000 square feet of state-of-the-art facilities enables us to better support the needs of our customers.”
Jeff Lambert, CEO of ICON and TAG, echoed this sentiment, stating: “We are excited to join PAG and leverage their resources and global reach. This partnership enhances our ability to serve our customers, providing them with faster service times and broader technical capabilities.” Both ICON Aerospace and TAG Aero are FAA/CAA/EASA-approved repair stations, specialising in avionics, accessories, electronics, and APU repair and overhaul services for the aerospace industry.
This acquisition positions PAG for further growth in the aerospace and defence sectors, enhancing its service capabilities and strengthening its market presence.
