Transportation: Honoring the Past, Treasuring the Present, Shaping the Future
Acquisition provides AAR with robust capabilities to provide
worldwide aviation services to government agencies.
WOOD DALE, ILLINOIS (March 25, 2010) — AAR CORP. (NYSE: AIR) announced today that it has signed an agreement to acquire Aviation Worldwide Services (AWS), a leading provider of expeditionary airlift services and aircraft modifications to the U.S. and other government customers, from Xe Services LLC. AAR is acquiring the business as part of its long-term strategy to expand its products, services and capabilities in support of government customers in the United States and abroad.
AWS, through its operating subsidiaries, Presidential Airways and STI Aviation, provides fixed- and rotary-wing flight operations, transporting personnel and cargo in support of worldwide U.S. Department of Defense and Department of State deployments, and performs engineering and design modifications on rotary-wing aircraft for government customers. AWS operates a fleet of 58 customized aircraft, of which 17 fixed-wing and 21 rotary-wing aircraft are currently deployed and 20 rotary-wing aircraft are available for future deployment.
The purchase price of the acquisition is $200 million, funded through a combination of available cash, a new 270-day syndicated credit facility and a five-year term loan secured against certain aircraft. Based on the current operating fleet, the business is expected to generate approximately $175 million of revenue on an annual basis and be accretive to earnings and margins within its first year of ownership. The Company expects the acquisition to be completed during the month of April, subject to customary closing conditions. Read Full Press Release.
GovPartners, LLC recently partnered with SRC Group, a Professional Consulting Company which offers Staffing, Resume Sourcing, and Business Development. "GovPartners continues to add services that provide our clients with resources needed to capture and maintain government business. We are excited about our partnership with SRC Group and the benefits they bring to our clients" said Cynthia Karnik, GovPartners CEO. SRC Group is committed to their clients and candidates who trust that they will do a good job for them by delivering truly qualified candidates in a timely manner. They are dedicated to building client and candidate relationships on trust, integrity and dependability. SRC Group represents the best the industry has to offer: outstanding, experienced, high-quality candidates; and innovative staffing solutions and resume sourcing. “SRC Group is excited to enter into a partnership with a quality service provider, GovPartners," said Stacey McKinney, SRC Group, CEO." We believe adding our staffing and recruiting support to their service offerings with provide clients with a proactive and complete solution for government business development. " GovPartners members and clients will receive benefits such as labor pricing for RFP submissions and qualified candidate sourcing. To find out more contact us.
The National Contract Management Association (NCMA) is proud to announce its newly established collaboration with GovPartners, LLC. This union will provide members of GovPartners with an exclusive opportunity to receive a complimentary one-year subscription to Contract Management magazine. This highly regarded monthly publication ranks as the number-one benefit among NCMA’s membership of 19,000 contracting professionals.
“GovPartners, LLC is excited to enter into a partnership with the leader in contract management, NCMA,” said Cynthia Karnik, GovPartners, CEO. “As a service provider, we share NCMA's vision that enterprises will succeed through improved buyer–seller relationships based on common values, practices, and professional standards. We believe our partnership will provide a full service solution to our members.”
NCMA Executive Director Neal Couture noted, “NCMA is pleased to extend Contract Management magazine to GovPartners members. This is a great opportunity to provide their members with inside access to the issues and concerns of the people who manage their relationships with the federal government, provide long-term value to their members, and enhance the professional development of these industry professionals.”
GovPartners connects businesses with prime contractors and subcontractors that are approved to work for the U.S. federal government. They support the needs of small and large businesses that need assistance with proposal writing, GSA supply schedule contracts, and formulating contractor teaming agreements with approved government contractors. Read more about GovPartners at www.govpartners.com
Founded in 1959, NCMA is the leading association in the field of contract management. The organization is dedicated to the professional growth and educational advancement of procurement and acquisition personnel worldwide. NCMA strives to serve and inform the profession and to offer opportunities for the open exchange of ideas in neutral forums. For more information, visit www.ncmahq.org.
Referenced press release can be found at www.ncmahq.org/News/PRDetail.cfm
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22 Aug 2009, Avon, OH - GovPartners was proud to sponsor a hole and a four man team at the First Annual Greg Shannon Memorial Golf Outing. A loving Father and dedicated husband, Greg passed away suddenly on January 31, 2009 after suffering a “silent” heart-attack attributed to Sugar Diabetes.
Amongst some rain drops and unseasonably cool August weather in Northeast Ohio, spirits of the near 200 golfers were high. Proceeds from the event will be placed in scholarships to be awarded to outstanding athletes in the Avon/Avon Lake area as well as one to an outstanding athlete from Greg’s hometown of Defiance, OH.
The four man team of: Team Captain Vin Karnik, Vince Karnik, Kevin Karnik and Troy Bunner were proud to be a part of this event and look forward to next years outing already, with hopes of improving on their score. Although slightly soaked at the end of the event, Kevin Karnik (COO) was thrilled with the dedication of the event organizers, saying “I’ve been involved in several golf scrambles, and this was by far the best!”