McNally Capital, a growth-focused private equity firm specialising in mid-market aerospace and defence, as well as industrial technology and services investments, has completed the acquisition of Airforce Turbine Service, Ltd. (ATS). ATS is an independent global aviation services provider with a strong reputation in maintenance, repair and overhaul (MRO) of the PT6A turboprop engine family.
As part of the transaction, Turbine Engine Maintenance Repair and Overhaul (TEMRO) has joined ATS as a wholly owned operating subsidiary. TEMRO will deliver certified engine maintenance and aftermarket services from its facility in Johannesburg, South Africa, expanding ATS’s international presence and strengthening its ability to support customers across multiple regions.
Founded in 1989 and headquartered in Mathis, Texas, ATS offers a comprehensive portfolio of services, including high-quality engine MRO, on-wing aircraft-on-ground (AOG) field support, and a wide range of aftermarket solutions. These include engine and parts sales, exchange programmes, and rental offerings designed to minimise downtime for operators. With the addition of TEMRO, ATS now operates a global maintenance network anchored in Mathis, Texas, with additional facilities in Malaysia and South Africa, alongside a remote sales and technical support office in Guatemala.
McNally Capital sees ATS as a scalable platform with significant growth potential. Ravi P. Shah, Partner at McNally Capital, said the company is at an important inflection point, with opportunities to expand its capabilities and extend its global reach while continuing to deliver high levels of service. He emphasised that ATS has built a differentiated business based on operational excellence, customer trust and a strong organisational culture, all of which McNally intends to preserve as the company grows.
The acquisition was completed alongside Rob Wilson, a seasoned aerospace executive and former President of Business Aviation and General Aviation at Honeywell. Wilson will serve as Executive Chairman of ATS, providing strategic leadership and industry insight as the business enters its next phase of development.
