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Aquisitions

Announcement

For Immediate Release | June 5, 2014

AVIATION ENTREPRENEURS ROB WHARF AND TODD COLLINS ANNOUNCE FINALIZING THE PURCHASE OF AERO SPORT POWER, PROGRESSIVE AIR SERVICES AND PROAERO ENGINES

New venture will bring all three successful aviation businesses under the Progressive Air Group of Companies and hasten the introduction of new products and services.

Kamloops, B.C.: Rob Wharf, Owner/President and Todd Collins, Owner/CEO/CFO of the Progressive Air Group of Companies announced today that they have finalized the purchase of Aero Sport Power, Progressive Air Services and ProAero Engines from the three companies’ original ownership group.

“Finalizing this purchase is very exciting for Todd and I. We both see great potential in the people and products the three companies offer. I have been the General Manager at Progressive Air since 2012 and to now be an owner/partner of not only that company, but its two sister organizations as well, is truly fulfilling,” Wharf said. “Alvin Hickey and Brian Barron, the original founders of the companies, and their longtime partner George Tetreau, have built an exceptional group of businesses and when they said they would be interested in selling it was just too good of an opportunity for Todd and I to pass up.”

Wharf also stressed that Hickey, Barron and Tetreau are going to remain as advisors and continue to provide support and guidance to the Progressive Air Group. “Their experience and knowledge are much too valuable to let slip away,” he said.

“Whether it’s building an experimental engine, supplying needed parts globally to maintainers or overhauling an owner’s certificated aircraft engine, the current management and technical teams at the three companies has already built an exceptionally strong reputation for quality and value,” Collins added. “Customers come to us knowing they are going to benefit from experts with years of experience. Many of our long-time customers have had the same engineers work on their aircraft, or aeronautical products for 15-or more years. That’s not going to change.”

Collins also said that along with finding ways to better integrate the skills already found in the three companies, he and Wharf are looking to expand their current service offerings.

“One immediate change is we will be updating the name of ProAero Engines to ProAero Aviation to better reflect the company’s introduction of new services including on-wing work, non-engine component repairs and NDT (non-destructive testing) services,” he said. “The combination of the talents we already have in the companies will also enable us to more quickly expand into other sectors including airframe MRO (Maintenance, Repair and Overhaul) for both aircraft and helicopters.”

“We look forward to starting the next chapter in the successful, and long-standing history of what are now the Progressive Air Group of Companies,” Collins said. “Much has been done over the past years to implement and achieve the vision of maintaining top quality, in-house products and services. We now look to continue that high level of service to our current and future customers.”

About the three companies:

Progressive Air Services was started in 1975 and has grown to be a global distributor of aircraft engines, parts and accessories. It is also Canada’s largest distributor for Lycoming Engines and Continental Motors. www.progressiveair.com.

ProAero Aviation (formerly ProAero Engines) opened in 1989 and currently offers a wide range of aircraft and engine maintenance, repair and overhaul services, including NDT capabilities. The company also has one of the largest pools of new and refurbished engine components in the region. www.proaeroav.com

Aero Sport Power started in 1997 and is today a leading provider of completed engines for the experimental (kit) built aircraft market. The company is a leading distributor for Superior Air Parts, Inc., and ECi non-certified, experimental engines. www.aerosportpower.com

About the Progressive Air Group of Companies
Based in Kamloops, British Columbia, the Progressive Air Group of Companies (PAG) is the parent company of Aero Sport Power (experimental aircraft engines), Progressive Air Services (global aircraft engine parts distributor) and ProAero Aviation Ltd. (aircraft engine and airframe repair/overhaul). The companies employ 25 licensed Aircraft Maintenance Engineers (AMEs), Technicians, Machinists and support personnel to provide the best service experience for its broad array of clients across North America and the world. For more information, visit: www.progressiveair.com, www.proaeroav.com or www.aerosportpower.com

About Rob Wharf, Owner, President, and Accountable Executive, Progressive Air Group of Companies

Wharf is a licensed Class M1 and M2, Aircraft Maintenance Engineer (AME) and pilot. As the past Director of Maintenance and AME for commercial, fire suppression and heavy-lift logging operators, he is experienced in the inspection, maintenance and overhaul of private, business and commercial aircraft and light to heavy-lift rotorcraft.

About Todd Collins, Owner, CEO and CFO, Progressive Air Group of Companies

Collins has over 20-years of commercial banking experience and has acted as the financial advisor to more than 300 companies ranging in size from sole proprietorships to large, publically traded companies. Collins will manage the support functions of the Group, including finance, accounting and sales force management.

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For Additional Information Contact:

Todd Collins, CEO/CFO Progressive Air Group

250-376-6226
todd.collins@progressiveair.com
www.aerosportpower.com

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