Landing Gear Technologies (LGT), has announced the sale of a majority stake in the company to Setna iO, an established aircraft parts supplier headquartered in Chicago. The strategic transaction is intended to accelerate LGT’s growth whilst safeguarding its core values and operational excellence.
Under the new structure, Raul and Ibis Cruz-Alvarez together with Roly Estrada will retain significant ownership and will remain actively engaged in leading the company. This will ensure the seamless continuation of the high standards of customer service, quality, and punctual delivery that LGT’s partners have come to expect.
“This partnership with Setna iO will provide us with the resources to expand our capabilities and introduce new platforms, all while maintaining the same commitment to our partners and our team. My family and I will remain fully dedicated to leading LGT and ensuring we continue to be a trusted name in the industry.” comments Raul Cruz-Alvarez, CEO of LGT.
“This is an incredibly important acquisition that will perfectly complement our MRO and component supply businesses. By integrating LGT’s team and services, we will gain more in-house, top-level MRO services, allowing us to offer our customers a more comprehensive and streamlined solution. We look forward to this new partnership and the value we will create together.” said David Chaimovitz, CEO of Setna iO.
As part of the integration, there will be no changes to LGT’s management team or existing employees. Indeed, the company anticipates expanding its workforce in the near future to support new product lines and services that will be introduced over the coming months. The transition will not impact any existing contracts or ongoing business operations. The company looks forward to building on its strong foundation and further enhancing the services it delivers to its global customer base.
