ATS Is One of the Most Established Independent PT6A Engine MRO Providers Worldwide CHICAGO–(BUSINESS WIRE)–McNally Capital (“McNally”), a growth-oriented privateATS Is One of the Most Established Independent PT6A Engine MRO Providers Worldwide CHICAGO–(BUSINESS WIRE)–McNally Capital (“McNally”), a growth-oriented private

McNally Capital Makes Strategic Investment in Airforce Turbine Service, a Leading Global Aviation Services Company

ATS Is One of the Most Established Independent PT6A Engine MRO Providers Worldwide

CHICAGO–(BUSINESS WIRE)–McNally Capital (“McNally”), a growth-oriented private equity firm specializing in middle market aerospace & defense and industrial technology & services investments, is pleased to announce its acquisition of Airforce Turbine Service, Ltd. (“ATS” or the “Company”), a leading independent global aviation services company specializing in maintenance, repair, and overhaul (“MRO”) of the PT6A turboprop engine family.

As part of the transaction, Turbine Engine Maintenance Repair and Overhaul (“TEMRO”) will join ATS as a wholly owned operating subsidiary, providing certified engine maintenance and aftermarket services from its facility in Johannesburg, South Africa.

Founded in 1989 and headquartered in Mathis, Texas, ATS delivers world-class MRO, on-wing aircraft-on-ground (“AOG”) field support, and a comprehensive suite of aftermarket solutions, including engine and parts sales, exchange programs, and rental solutions. In combination with TEMRO, ATS now operates a global maintenance footprint centered in Mathis, Texas, with additional locations in Malaysia and South Africa, as well as a remote sales and technical support office in Guatemala.

“ATS is at a compelling inflection point, with clear opportunities to scale its platform, expand capabilities, and continue serving operators at the highest level,” said Ravi P. Shah, Partner at McNally Capital. “The team has built a differentiated business grounded in operational excellence, customer trust, and a strong culture. We are excited to partner with ATS to support its next phase of growth while preserving the values and mission-critical focus that define the Company.”

McNally Capital completed the acquisition alongside Rob Wilson, a longtime aerospace industry executive and former President of Business Aviation and General Aviation at Honeywell, who will serve as Executive Chairman of ATS.

“ATS has earned the trust of operators through disciplined execution, rapid turnaround times, and consistent reliability in supporting the PT6A fleet,” said Rob Wilson. “With increasing utilization, aging fleets, and supply chain pressures across the industry, ATS is exceptionally well-positioned to scale its infrastructure, invest in its people, and broaden its service offering. I am excited to work with the team and McNally Capital to help guide the business through its next phase of growth.”

Chris Carson, Managing Partner and Owner of ATS, emphasized the strategic alignment behind the transaction and the opportunity to accelerate the Company’s next phase of growth. “ATS is at an important inflection point in its growth, with significant opportunities ahead to expand and scale the business,” said Chris Carson. “As we evaluated potential partners, McNally Capital clearly stood out for their deep understanding of our business and proven experience scaling aerospace services platforms. They are the right partner to help take ATS to the next level while remaining true to our culture and commitment to customers.”

The acquisition of ATS further strengthens McNally Capital’s aerospace portfolio and marks the first investment from McNally Capital Fund III, LP. The transaction reflects McNally’s aftermarket aerospace thesis and its focus on partnering with management-led businesses navigating mission-critical inflection points as they enter the next phase of growth.

Transaction Advisors

Alantra served as financial advisor, and Moore & Van Allen PLLC served as legal counsel to ATS. Ropes & Gray LLP served as legal counsel to McNally Capital.

About McNally Capital

McNally Capital is a growth-oriented private equity firm based in Chicago, Illinois. The firm is currently investing out of McNally Capital Fund III, LP.

The firm seeks thesis-driven middle market buyout investments across two primary industries: Aerospace & Defense and Industrial Technology & Services. McNally Capital seeks to apply its hands-on experience, institutional capabilities, and proprietary value creation framework, Atlas, to its portfolio companies in their next phase of growth.

Ward McNally, Co-CEO & Managing Partner, founded the firm in 2008. He is a sixth-generation member of the McNally family, which proudly owned and operated Rand McNally & Company for nearly 150 years until its sale in 1997. The firm believes these roots provide a deep appreciation of building and scaling companies that shape industries and endure for generations. For more information, visit https://www.mcnallycapital.com.

About Airforce Turbine Service, Ltd.

With over 50 years of experience as a certified PT6A engine repair station, Airforce Turbine Service (ATS) is one of the most established independent Pratt & Whitney Canada PT6A engine service providers worldwide. ATS maintains FAA, EASA, and numerous country-specific CAA & DGC certifications, with field support centers located in the U.S., APAC, Africa, and Latin America. For more information, visit https://www.pt6a.aero/.

About TEMRO

Turbine Engine Maintenance Repair and Overhaul (“TEMRO”) is a South Africa–based aviation services provider specializing in certified maintenance, repair, and overhaul services for turboprop engines. Operating from its facility in Johannesburg, TEMRO delivers aftermarket support to regional and international operators and complements ATS’s global aviation services footprint. For more information, visit https://temro.aero/.

Contacts

Nicole M. Henderson, Head of Fundraising & Investor Relations

(312) 757-5158

nhenderson@mcnallycapital.com

Tyler Ashley, Head of Business Development

(312) 767-2511

tashley@mcnallycapital.com

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