Precision Aviation Group | August 24, 2022
GenNx360 Capital Partners ("GenNx360") announced today that its portfolio company, Atlanta-based Precision Aviation Group, Inc. ("PAG"), a leading provider of products and value-added services to the aerospace and defense industries, has entered into a definitive agreement to acquire PTB Group (PTB). PTB is listed on the Australian Securities Exchange (ASX: PTB) and the transaction is currently scheduled to close in the 4th quarter of 2022, post receiving required shareholder and regulatory approvals. PTB provides maintenance, repair, and overhaul services (MRO) on Pratt & Whitney PT6 and Honeywell TPE331 engines, leases engines and airframes, and provides aviation supply chain services. PTB is made up of the following entities: Pacific Turbine USA Group (a/k/a Prime Turbines) with locations in Texas, Arizona, Florida, and Pennsylvania, Pacific Turbine Brisbane and Pacific Turbine Leasing, both in Brisbane, Australia and International Air Parts located in Sydney, Australia. Daphne Dufresne, the GenNx360 Managing Partner who leads the PAG investment said, "I am pleased to assist the PAG team on its continued positive growth trajectory. The PTB acquisition is highly strategic, and we are excited about the expansion of PAG's Engine Services Capabilities and increasing their market share in this vertical. This strategic expansion is a testament to PAG's management team and their strong execution."
"We are excited about adding PTB to the Precision Aviation Group of Companies. The addition of PTB increases PAG's repair stations to 20 worldwide, expands our Engine Services Division with the addition of the PT6 and TPE331 engines, and significantly enlarges our Supply Chain Services business. Stephen Smith and his team, like PAG, are focused on exceptional customer service and exceeding customer expectations. We look forward to this partnership,
David Mast, President and CEO of PAG.
Stephen Smith, PTB's Managing Director and CEO said, "We are pleased to be entering into this definitive agreement with PAG and believe they will be a good future owner of the Company. PAG is committed to continuing to expand our products and services and ensuring continued opportunities for our workforce of approximately 150 people. PAG has a shared vision with PTB, and I see an exciting future ahead." "Our interest in PTB is a continuation of the PAG strategy to increase the company's repair portfolio through synergistic acquisitions and to better serve our customers. This investment would be the seventh PAG bolt-on executed under GenNx360's ownership", said Pratik Rajeevan, GenNx360 Principal on the transaction.
About Precision Aviation Group
PAG is a leading provider of products and value-added services to the aerospace and defense industry worldwide. With 16 Repair Stations globally, and over 650,000-square-feet of sales and service facilities. PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain – and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO®). PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft. PAG subsidiaries have MRO and manufacturing capabilities on over 150,000 products focused on 4 verticals – Avionics, Components, Engines and Sub-Assembly/DER/Manufacturing Services. (www.precisionaviationgroup.com). PAG is owned by global investment firm GenNx360 Capital Partners.
About PTB Group
PTB Group is an ASX listed aviation company which provides the following services globally:
Maintenance, repair and overhaul services ("MRO") services for Pratt & Whitney PT6 and Honeywell TPE331 Engines
Aircraft and engine related supply chain services.
About GenNx360 Capital Partners
GenNx360 Capital Partners is a private equity firm focused on acquiring middle market business-to-business companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries, with the objective of implementing value-enhancing operational improvements to accelerate growth, deliver efficiencies and generate strong financial returns. Target industries include aerospace & defense, business & industrial services, automation & industrial technology, packaging products, industrial machinery and components, equipment services, environmental services, and food ingredients/equipment/services. GenNx360 was founded in 2006 and is headquartered in New York City.
DEFENSE AND SPACE
Honeywell | July 13, 2022
Relentless eCommerce trends continue to put tremendous strain on distribution and fulfillment operations worldwide. A new Honeywell report reveals once-predictable consumer demand cycles centered around holidays and "peak seasons" have given way to a model where any month, week or day can be a holiday.
Warehouse Automation: Future-Proofing the Global Economy, authored by Futurum Research, examines the importance of automation as an increasingly critical component in helping warehouse and distribution center operators meet new escalation points in consumer demand.
"One of the biggest predictors of how a business will thrive in the hypercompetitive e-commerce and omnichannel marketplace is how well it improves its decision making in real time to make deliveries faster and more accurate. With rising service level agreements dictating order fulfillment process improvements, automation can help bring stability, predictability and potentially unlock greater efficiency to their operations."
Keith Fisher, president of Honeywell Intelligrated
"While warehouses have historically had a sense of predictability in demand cycles, we found that in today's warehouses and DCs, every day is as busy as peak," said Shelly Kramer, principal analyst and founding partner of Futurum Research. "While we can assume the level of strain this has placed on supply chain and fulfillment operations, we were able to get a better grasp of how businesses are approaching this shift in consumer expectations and adopting the right automation to meet their long-term business goals."
The report also explores how the ongoing pandemic, global trade issues and regional conflicts have created long-term disruptions to the historically predictable throughput and capacity of warehouses and DCs.
From concept and integration, Honeywell Intelligrated draws on its expanding portfolio and deep industry expertise to help warehousing, distribution and fulfillment companies optimize and manage their processes. The business offers integrated end-to-end automation solutions, warehouse execution systems and analytics solutions to improve throughput and keep workers safe.
Honeywell Safety and Productivity Solutions provides products, software and connected solutions that improve productivity, workplace safety and asset performance for our customers across the globe. We deliver on this promise through industry-leading mobile devices, software, cloud technology and automation solutions, the broadest range of personal protective equipment and gas detection technology, and custom-engineered sensors, switches and controls.
Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.
Aeva Technologies, Inc. | August 02, 2022
Aeva® a leader in next-generation sensing and perception systems, and SICK AG announced a strategic multi-year collaboration to bring Aeva’s FMCW 4D LiDAR™ to a variety of industrial sensing applications including long range sensing, starting with Aeries™ II.
“We are pleased to partner with Aeva and work closely together to bring its FMCW technology to high performance industrial sensing applications. We are convinced that their unique approach to FMCW technology, which includes instant velocity detection and long range performance, will provide new opportunities for us and our customers in a variety of industrial sensing applications where traditional time of flight LiDAR technologies are challenged.”
Dr. Niels Syassen, Member of the Executive Board responsible for Technology and Digitization at SICK
Aeva’s FMCW 4D LiDAR technology provides unique perception advantages over other sensing technologies like cameras and legacy 3D LiDAR sensors. This includes better dynamic range performance to perceive low and high reflectivity targets within the same measurement without edge effects, allowing automated machinery to transition easily from indoor to outdoor operation. Because Aeva’s technology is immune to blooming and ghosting from retroreflectors, automated machines using Aeva’s 4D LiDAR will have clear perception when highly reflective objects such as safety vests, cones and tape are in the field of view of the sensor. The technology clearly detects low and highly reflective objects such as safety vests, pylons and adhesive tapes in the sensor's field of view. FMCW helps increase reliability and efficiency in demanding 3D applications.
“SICK is one of the foremost leaders in industrial sensing solutions and today’s partnership is a major step forward for the advancement of high performance and reliable FMCW-based sensing across a broad set of industrial applications,” said Soroush Salehian, Co-founder and CEO at Aeva. “This strategic collaboration is a testament to the industry-leading performance and versatility of our unique 4D LiDAR technology for scaled deployment in industrial applications.”
About SICK AG
SICK is one of the world’s leading solutions providers for sensor-based applications in the industrial sector. Founded in 1946 by Dr.-Ing. e. h. Erwin Sick, the company with headquarters in Waldkirch im Breisgau near Freiburg ranks among the technological market leaders. With more than 50 subsidiaries and equity investments as well as numerous agencies, SICK maintains a presence around the globe. In the 2021 fiscal year, SICK had more than 11,000 employees worldwide and a group revenue of around EUR 2 billion.
About Aeva Technologies, Inc.
Aeva’s mission is to bring the next wave of perception to a broad range of applications from automated driving to industrial robotics, consumer electronics, consumer health, security and beyond. Aeva is transforming autonomy with its groundbreaking sensing and perception technology that integrates all key LiDAR components onto a silicon photonics chip in a compact module. Aeva 4D LiDAR sensors uniquely detect instant velocity in addition to 3D position, allowing autonomous devices like vehicles and robots to make more intelligent and safe decisions.
MedAire | July 27, 2022
WestJet announced an extension of its partnership with MedAire, an International SOS company that provides emergency medical assistance to cabin personnel during in-flight medical events. As the first airline in North America to fully leverage the MedAire In-Flight App, WestJet cabin personnel now have multiple ways to connect with MedLink doctors during a medical emergency.
"The first fifteen minutes of a medical incident are the most critical to administer care, and through our efforts to prioritize safety above all, we are committed to providing our cabin crew with the best tools possible to assist our guests in the event of an emergency situation. Through the efforts of our operational teams, the deployment of the MedAire In-Flight App will reduce the amount of time it takes to connect with a first responder and greatly improve the likelihood of a positive outcome."
Dr Tammy McKnight, WestJet Chief Medical Officer
By combining technology, decades of expertise, AI assistance and text-based communication tools, WestJet cabin personnel will have frictionless access to the world's leading emergency medical physicians to ensure unwell passengers receive timely, accurate medical support.
"Crew members are the first responders during in-flight medical events," said Dr Paulo Alves, Global Medical Director of Aviation Health at MedAire. "Their role is critical in ensuring guests' medical concerns are accurately assessed and communicated to the flight deck and the ground-based medical team. However, limitations in communication equipment throughout the cabin can make this challenging. Having the app guide a first responder through the most common and life-threatening events onboard helps them deliver on that responsibility."
MedAire assists most of the world's airlines with more than 200 in-flight medical issues daily and has managed hundreds of thousands of in-flight medical events over the last 35+ years. The MedAire In-Flight App leverages the extensive knowledge of medical events that occur onboard and complements existing MedLink medical advisory services by
Improving communication tools for flight crew to reach MedAire's MedLink doctors.
Providing intuitive, guided patient assessment instructions for a crewmember to capture vital information that expedites care based on the type of medical emergency.
Offering efficient and easy access for the flight crew to quickly engage MedAire's MedLink doctors for assistance during medical events.
In 26 years of serving Canadians, WestJet has cut airfares in half and increased the flying population in Canada to more than 50 per cent. WestJet launched in 1996 with three aircraft, 250 employees and five destinations, growing over the years to more than 180 aircraft, 14,000 employees and more than 100 destinations in 23 countries pre-pandemic.
Since the start of the pandemic, the WestJet Group of Companies has built a layered framework of safety measures to ensure Canadians can continue to travel safely and responsibly through the airline's Safety Above All hygiene program. During this time, WestJet has maintained its status as one of the top-10 on-time airlines in North America, as named by Cirium.
MedAire, an International SOS company, has been a partner to the aviation industry since 1985; the aviation industry's proven leader for integrated travel risk management solutions to over 180 of the world's leading airlines and over 4,000 private aircraft, including 75% of fortune 100 companies. Integrated solutions include aviation security intelligence, real-time health and security advice and assistance, training, medical equipment, and professional services for crew and passengers in and beyond the cabin. MedAire handles thousands of calls annually to help crew and passengers manage medical and travel safety events in the air and on the ground with 24/7 access to emergency care doctors, nurses, and aviation security specialists.