The Ranger Review
Chapter 5, Issue 1 January 1, 2017
RANGER AEROSPACE These 6 Critical Success
Factors have been
hallmarks for all Ranger
companies over the years: Quality, Safety, and FAA
Compliance Superior Leadership
and Strategic Vision Sales and Marketing
Effectiveness Operational Excellence,
Continuous Improve-ments & Measures
Financial Management
for Superior Results Customer Focus for
Loyalty, Service, Growth
The Ranger Review is a periodic publication for our subsidiaries’ employees and their families. Story suggestions may be sent to the Editor (see back page.)
Ranger Aerospace Still Beating the Odds After
20 Years of Private Equity Aviation Buyouts
Chapter V, Issue I June 2017
Ranger Aerospace, a private equity consolidator and
management holding company specializing in
aerospace operations and aviation services deals since
1997, marked its twentieth
anniversary during March 2017.
Ranger has built three separate
platform companies to over $100
Million revenues each thus far in
its colorful 20 year history, and
has managed as many as
4,250 personnel at 56 airports.
Ranger adds value by bringing
accomplished leaders to bear on
operational improvements and
accelerated growth. Ranger
focuses heavily on operations,
marketing, quality, and people,
with a "Good to Great" incremental approach to business
transformations.
Ranger's latest holdings are: ACL Airshop, which
provides air cargo products and services to airlines
clients at more than half of the world's Top 50 cargo
airports; and InTech Aerospace, which performs MRO
and retrofit services on commercial airliner interiors.
The pivotal investment in ACL Airshop won the Deal
of the Year award for 2016 from M&A Advisor
magazine, an international financial
publication. In earlier aviation ventures,
Ranger Aerospace won similar awards
for Deal of the Year in 2009, and Deal of
the Decade in 2011 (for the decade ending
2010). Ranger's divestiture of Ranger
International Services Group won 3 Deal of
the Year awards in 2012 for the sale of
that aerospace/defense technical services
company to a major international engineering firm.
This 20th anniversary commemorates Ranger's long
history of excellence in the aerospace private
equity field. Since its inception in March 1997 as a
"kitchen table start-up," Ranger's previous large-scale
multi-year and multi-acquisition successes have
included Aircraft Service International Group
(“ASIG”), Keystone Helicopter, Skytanking
GmbH, Composite Technology, Ranger Rotorcraft
Group, Ranger International, the Keystone HeliPlex,
and related ventures under Ranger's quality-centered
management style. Each large
platform with a successful exit
was sold to huge strategic buyers,
who then kept growing the
business. Ranger Aerospace
stemmed from Ranger Partners
Group, was first formed as a "C"-
Corp, and later shifted to a
Delaware "LLC" following the
ASIG divestiture in 2001.
Steve Townes, Ranger Aerospace
founder and CEO of the two
current holding companies said “we are growing both
ACL Airshop and InTech Aerospace. We will do this
steadily like we have before, pacing ourselves carefully
through strategic investments and organic growth,
entering new lines of technical capacity, fostering deep
and continuous operational improvements, expanding
geographically, and possibly acquiring complementary
companies. The flywheel is definitely accelerating."
Ranger Aerospace has been the management stewardship
team for over $450 Million in various buying, selling, and
investing transactions over the past two
decades. Investment returns in each of
Ranger's successful large-scale divestitures
have been superior for the sector, with
"IRR" on its strongest exit slightly over
60%, plus commensurate cash-on-cash
multiples. Townes said: "Our excellent
results, value creation, and sustained
performance are due to outstanding teams
of people. We manage for Quality—
Safety—FAA Compliance, and we have always strived to
be a positive, principled employer for motivated aviation
professionals with the Right Stuff. Our quality awards
and workforce expansions are as important to us as
financial kudos, because it is those fundamentals that
create lasting and growing enterprises." Ranger has
created several thousand new jobs over the past twenty years
by aggressively expanding the large enterprises it has owned.
"“We have always
sought to at least
double our Ranger
enterprises on behalf
of our many aviation
clients” -Steve Townes,
CEO & Founder
“A Kitchen Table Start-Up”
South Carolina
Aerospace Industry
News
5 Aviation High
Schools announced as a
statewide initiative for
workforce development.
McNair Center won a
$628 Million technology
grant from Siemens Corp.
Business Tagline or Motto
Chapter 5, Issue 1 January 1, 2017
Page 2 The Ranger Review
ACL Airshop, a leader in products and services for the global air
cargo industry, announced its long-range worldwide expansion
plans at a press briefing at the annual IATA World Cargo
Symposium in Abu Dhabi in March. Over the past 33 years, ACL
Airshop has become a leading worldwide one-stop shop for
leasing, sales, repair and fleet control of Unit Load Devices
("ULDs") and cargo net/strap manufacturing for the aviation
industry. Today the company operates around the world on
six continents, at more than half of the world's Top
50 air cargo hub airports. One of the unique
aspects of the company's offerings is short-
term rentals and leasing solutions for
airlines' cargo products requirements—
that is where ACL Airshop has made its
strongest reputation for Custom ULD
Solutions.
In 2016, ACL Airshop opened 4 new
hub locations and enhanced 3 others.
New sites include Narita/
Tokyo, Bogota, Mexico City,
and Beijing. Service enhancements were
added at DFW Texas, IAH Houston,
and LAX California. 2016 was a year of
positive transitions and brisk growth of new
sites with the strong new parent company of ACL
Airshop, and now the organization will begin accelerating its
worldwide network investments on behalf of its hundreds of
airlines customers. ACL Airshop serves over 200 airlines of all
sizes and types, currently at 39 major airport locations.
For 2017 and beyond, the Company plans to ramp-up its hub
investments around the world. At the IATA symposium, the
company also rolled out its new logo and completely
revamped web site. This year, the growth will include at least 5
new service hubs, plus 2 new Repair Stations in Bogota and Hong
Kong (adding to the existing service operations at those two key
sites). Hong Kong is the #1 largest air cargo airport in the Asia-
Pacific region, indeed second-only globally to Memphis TN (the
main hub for FedEx). Bogota is the #1 busiest cargo airport in all
of Latin America, and is intended as ACL Airshop's capital city
for that important geographic growth zone.
The company's 2016 investment at Narita Airport/Tokyo with a
complete ULD Repair Station is a classic example of responding
to customers' needs: 60% of all air cargo in and out
of Japan flows through Narita.
Tony Morgan, President & CEO of ACL Airshop, said: "Growing
our network is a simple, customer-driven strategy. We are
building a larger footprint. It makes us an even better partner for
our airline clients. We will expand to a significant majority of the
world's Top 100 air cargo airports in the coming years."
Morgan further commented: "We will grow the network by
providing Custom ULD Solutions via Leasing, Sales,
Manufacturing, Repairs, and Fleet Control. Our expansion
strategy is exciting and well-capitalized: we are creating the
strongest niche leader for Custom ULD Solutions in the world."
ACL Airshop intends to invest for growth in each of its lines of
business and expand geographically to keep pace with
rising industry trends. The headquarters is
near Greenville, SC, and the main
international office is in Amsterdam,
NL. ACL Airshop provides mission-
critical air cargo products and services
to numerous leading air carriers.
Cargo pallets, cargo shipping
containers, straps, nets, hardware,
and other cargo-specific control
products are globally available
24/7/365. ACL Airshop also
provides innovative leasing
programs and control/tracking
services, and operates FAA /
EASA approved repair stations in
multiple locations to repair and overhaul
these assets.
While increasing its operational footprint in North
America, South America, and Europe, ACL Airshop's growth in
recent years has also followed regional trends in the Asia-
Pacific and Mideast regions. The company has a significant
service presence at strategic locations such as Dubai, Hong
Kong, Japan, and mainland China.
The February 2016 majority investment in ACL Airshop by
Ranger Aerospace and its Private Equity partners won "Deal of
the Year" award from M&A Advisor magazine, a worldwide
financial publication.
ACL Airshop Announces Worldwide Expansion Plans
The Senior Team at the Press Conference in Abu Dhabi.
Check out the new logo
and new website!
www.ACLairshop.com
January 1, 2017
Page 3 The Ranger Review
1. I am responsible for knowing and complying
with the laws and regulations that apply to my
personal work. I will always try to choose the
“harder right instead of the easier wrong.”
2. I am responsible for checking the condition of the tools and
equipment I use, and making sure that they stay in proper shape.
3. I know that my work affects safety for those around me, critical
equipment, and aircraft; I will always be careful. If I see some-
thing illegal or unsafe being done, I will stop that action as best I
can and alert my supervisors.
4. I am responsible for following company procedures and/or
FAA /EASA rules that apply to my work site.
5. I am responsible for treating all of our customers and employees
with professionalism, respect, and courtesy. And, I will not lie,
cheat, or steal, nor tolerate those who do.
6. The better I work within our team, the better our team quality will
be. Our customers demand and expect high quality from us, every
time, all the time.
7. I am committed to providing our customers with the most reliable
services and goods possible; they make my paycheck possible.
8. Quality doesn't cost. It pays! It’s what makes us special against
our competitors, and in our customers' eyes. It is always cheaper
to do it right the first time, instead of correcting mistakes.
9. I am committed to continuously improving the quality of our
operations. My goal is zero deficiencies in customer ratings.
10. My work is a visible advertisement for future work. My
"signature" is on everything that I do.
InTech Aerospace, a steadily growing aviation technical services firm
specialized in commercial and military airplane interiors and
components, has become a classic entrepreneurial success story in
Houston, Texas. As experts in aircraft interiors, the company has more
than doubled in size in just the past few years. InTech is riding the growth
wave of long-term market expansion on commercial airlines fleets. InTech
Aerospace finds itself in a period of unprecedented growth. The airlines’ fleets of
large and regional planes are expected to double in their numbers in the next 20 years (forecasts by Boeing
and Airbus), and interiors tend to wear out with heavy use, requiring periodic overhaul and upgrade. Published
reports recently cited over $6.1 Trillion in new orders for commercial airplanes through the year 2037, and all
of those planes (which will fly for 30 years or more) represent an “Installed Base” of many millions of man-
hours of required repairs and refurbishments. That aftermarket phenomenon of recurring repairs is where
InTech Aerospace predicts its most aggressive growth in the next 5 to 10 years. Performing overhaul and
retrofit chores on aircraft interiors and related components, InTech Aerospace today has a client list that
includes regional airlines, mainline carriers, large
OEM’s, aircraft leasing companies, and major MRO
facilities. Known as the “interior experts,” Intech
Aerospace has teams of highly experienced craftspeople
and technicians. InTech Aerospace recently participated
in Aviation Week’s MRO Americas. It is the world’s
largest gathering of aviation maintenance professionals.
Intech will also participate in the premier annual event
ACPC 2017, where it will showcase its capabilities and
services to hundreds of airlines and other clients.
InTech Just Promoted Scott Mowery to Chief
Operating Officer!
InTech Aerospace
CEO Corner
To Fellow Leaders:
Fulltime vigilance on Quality Safety- FAA/ EASACompliance.
Be good employers for our people.
Focus on customers’requirements & measures.
Action orientation, get stuff done.
Leave skid marks!
Steve Townes CEO
Ranger Aerospace stownes(at)rangeraerospace.com
All leaders and managers in the
company are pushing for a breakout year
in 2017.
As stewards of the enterprise, look to
your managers for strong adherence to
timeless values such as:
Set and maintain a clear and
cohesive vision for where we are
taking the company. This applies at
all levels. If you do not understand
your part of the mission, it’s ok to
ask.
Maintain a healthy, nurturing,
positive leadership environment
that respects the individual and
fosters high performance.
Be good, effective leaders in
providing meaningful jobs for our
people, and keeping a brisk tempo
of actions and accomplishments.
Stay mindful that our customers are
measuring our performance
literally every day. High quality
rankings lead to sustained business
and future growth.
“Quality Starts With Me” (This was first written by aircraft technicians in a Ranger enterprise many years ago.)
January 1, 2017
The Ranger Review
Ranger Aerospace is a privately held investment and
management holding company that partners with private equity
institutions to acquire and grow companies in aviation services
and aerospace support operations. Ranger and its co-investors
add value to acquired companies via seasoned veterans
experienced in aviation services, aerospace programs,
engineering, finance, corporate development, MIS, marketing &
strategic planning, Total Quality Management, mergers &
acquisitions, post-merger integration, and turnarounds.
The Ranger Review is a periodic publication for our subsidiaries’ employees
and their families. Story suggestions may be sent to the Editor. To request additional copies of this newsletter, or
to submit ideas and article suggestions, please contact Candace Spradlin, Marketing and Communications Manager, 864.329.9000 or
This newsletter is copyrighted by Ranger Aerospace, 2017, with all rights reserved. Any manner of reproduction or use of editorial or graphic content without permission is
prohibited.
RANGER AEROSPACE
128 Millport Circle Suite 200 Greenville, SC 29607
Phone: 864.329.9000 Web: www.RangerAerospace.com
All employees should feel free
to contact or come visit the
corporate office on an open
door policy. The CEO has an “Electronic Open Door” policy
for any employee wishing to
contact him directly.
Get to know the team in each
subsidiary
ACL Airshop Tony Morgan, President
Gary Langford, CFO
Marc Terpstra, Mng. Director International
Wes Tucker, VP Operations
John Stewart, VP Americas
Jos Jacobsen , Director Europe
Maurice van Terheijden, Director MENA
Pieter van Calcar, Director Asia Pacific
436 Saco Lowell Road
Easley, SC 29640
Phone: 864.466.9000
Web: www.ACLairshop.com
InTech Aerospace Todd Wilkinson, President
Scott Mowery, Chief Operating Officer
Dragon Djordjevic, CFO
Maria Villarreal, Dir. Soft Goods
George Adams, Dir. Quality
4750 World Houston Pkwy
Suite 100
Houston, TX 77032
Phone: 281.810.4400
Web: www.InTechAero.com
Forward Looking Statements: The Company from time to time may discuss forward-looking information. Except for factual historical information, all forward looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that are beyond the Company’s control and may cause actual results to differ materially from management’s expectations.
Good to Great: Why Does Ranger Stress These Principles?
In most examples of effective, even remarkable, good-to-great corporate transformations, you find some of
the same things that we have put into our business plans for ACL Airshop, Intech and Ranger. There is no
single miracle moment or an instantaneous revolution. Instead, successful companies follow a down-to-
earth, pragmatic, committed-to-excellence process - a framework – that keeps a company, its leaders, and its
people on track for the long haul. Like a motor that slowly picks up speed, with steady momentum on its
flywheel, rather than pedal to the metal drag racing. It’s the victory of steadfast discipline over the quick
fix. Rather than adopting catchy slogans, we believe that change and growth come as a result
of relentless small improvements, working to a clear, disciplined plan that is well
communicated and methodically carried out, measuring and adjusting as we go.
5 Things to Remember that are Easy and Clear:
Leadership should be steady, with a clear vision for where the company is going.
The who and the what—get a good team in place at all levels. Manage with facts, including the facts about ourselves, good or bad. Do just a few things passionately and well A disciplined culture of make-it-happen entrepreneurs
ACL Airshop Appoints
Two Senior Executives
InTech Aerospace has commenced substantial
improvements in its main facility near George
Bush International Airport. Scott Mowery,
InTech's Chief Operating Officer, said, "At
Intech Aerospace we are committed to
creating the most positive and efficient work
environment for our employees. Utilizing lean
initiatives and investing in these substantial
facility improvements will enhance that
environment, and further supports delivering
top quality products to our customers in the
most efficient time. We are improving our
capabilities to do more for our airline and
MRO clients, always seeking to exceed
customers’ expectations."
InTech Aerospace announced these facility-
wide improvements on the eve of "MRO-
Americas," the industry's largest trade show
serving the aviation MRO market. The facility
upgrades and shop enhancements will
continue as an investment project through 3rd
Quarter 2017.
InTech Makes Facility Improvements
ACL Airshop has named Steve Townes as
chairman and Gary Langford as chief
financial officer (CFO). President and chief
executive officer, Tony Morgan says:
“Having exceptional leaders like this on our
team is further strengthening our strategy for
global expansion.”
Langford has held senior finance positions
with a number of diverse manufacturing companies, both public and private, and has
owned several entrepreneurial endeavors.
He was the former CFO of Prospect Brands,
a wearable technology company, and of
Revolution Lighting, a NASDAQ company
focused on advanced LED lighting
technologies. Langford says: “I appreciate,
and am honored by this opportunity.
The CFO position allows me to work closely
with an incredible group of people across the
globe in a dynamic company environment.
I’m confident in our ability to work together
and grow as the leader in Custom ULD
Solutions for our customers.”
Both of these executive appointments were
decided on by the ACL Airshop, LLC board
of managers, and affirmed by the board of
directors of Ranger Airshop Holdings.