Alantra advises Airforce Turbine Service (“ATS”) on its sale to McNally Capital

Dec 2025

Sell-side advisory

New York – Alantra acted as exclusive sell-side advisor to Airforce Turbine Service (“ATS”), a leading global provider of maintenance, repair and overhaul (“MRO”) services for Pratt & Whitney PT6A engines, on its sale to McNally Capital, a private equity firm focused on investments in the Aerospace & Defense (“A&D”) and Industrial Technology & Services industries.

Founded in 1989 and headquartered in Mathis, Texas, ATS is one of the most established independent MRO providers serving the global PT6A engine market. The company offers comprehensive aftermarket solutions, including engine overhauls, on-wing aircraft-on-ground (“AOG”) support, and one of the industry’s largest inventories of engines and parts for sale, rental, and exchange. With operations spanning the U.S., Latin America, Africa, and Asia-Pacific, ATS supports customers across agricultural, cargo, corporate, and general aviation sectors.  In addition, as part of the transaction, South Africa-based Turbine Engine Maintenance Repair and Overhaul (“TEMRO”) will join ATS as a wholly owned subsidiary, strengthening its global maintenance platform.

Alantra ran a competitive process, evolving from a targeted outreach to a broader market engagement that yielded very strong buyer interest. Following a rigorous diligence phase, including a sale-leaseback and joint-venture evaluation, McNally Capital was selected for its sector expertise and strategic alignment, supported by a proven industry advisor.

Wade Aust, Managing Partner at Alantra, commented: “This marks Alantra’s 10th Aerospace & Defense / MRO transaction in the past 12 months, reinforcing the firm’s deep sector expertise and ability to execute complex strategic outcomes for owner-operated businesses.  We also have several more A&D businesses that are being prepared for divestiture in 2026.”

David Waldstein, Managing Director at Alantra, added: “The shareholders and management team of ATS have been highly successful in reimagining ways to better serve the PT6 aftermarket which has made the company the go-to MRO for working fleets around the world.  The robust sale process was affirmation that knowledgeable investors recognized the company’s strength in the market and its exciting future.”

 “The company attracted significant interest from both strategic and financial buyers, reflecting its unique market position and strong growth profile. We’re confident that McNally Capital will be an outstanding partner for the company’s next chapter, given their extensive sector experience and strategic vision” said Jon Tetirick, Director at Alantra.

Eric Golod, Associate as Alantra, added: “ATS has built an exceptional reputation by combining deep technical expertise with a relentless commitment to operational excellence and customer support. Their ability to serve operators across multiple continents with the same level of precision and responsiveness is rare in the MRO market. We’re confident that the partnership with McNally Capital will further strengthen ATS’s global platform and unlock new opportunities for growth.”

Recent similar mandates also include the majority‑stake sale of ground support equipment supplier Aeroservicios USA to CSI Leasing (a subsidiary of Tokyo Century Corporation), the sale of a minority stake in French aerospace supplier JPB Système to Ardian, and the sale of Industrial Service Solutions’ Inspection Services segment to Element Materials Technology.