Story ID: 016CompletionsUpdateAINSept14EditedByAY_NM
Pats Aircraft Systems Gets New Owner
By: James Wynbrandt
Caption: Moelis Capital Partners acquired the company from Wayzata Investment Partners.
Word Count: 116
Pats Aircraft Systems of Georgetown, Del., completion specialist for widebodies and BBJs and sole provider of auxiliary fuel-tank installations for BBJs, was acquired from Wayzata Investment Partners by Moelis Capital Partners (MCP) of New York City. Pats plans to continue concentrating on BBJ completions, expanding its business by finding more customers overseas and possibly putting more emphasis on its refurbishment business, according to John Martin, who retains his position as Pats president and CEO. The company’s auxiliary-tank installations, which provide entrée for pitching its completions capabilities, have slowed to four this year from the formerly typical six to eight, but Martin sees a rebound ahead when the BBJ Max becomes available in 2018.