Turbopower Announces Acquisition by Battle Investment Group and Capricorn Holdings
OPA-LOCKA, Fla., July 14, 2021 (Newswire.com) - Turbopower, a maintenance, repair and overhaul (MRO) service provider for gas turbine engines, auxiliary power units and component parts, announced its recent acquisition by Battle Investment Group and Capricorn Holdings. Turbopower specializes in servicing turboprop engine platforms, including the Rolls-Royce T56 and Pratt & Whitney PT6.
As part of the acquisition, Vlad Miskovic will assume the role of President of Turbopower. "It's an honor to be named President of Turbopower. I've been working with the Turbopower management team through the transaction process and am extremely excited about the growth prospects for the Company," Miskovic said.
In his new role, Miskovic will lead Turbopower's continued delivery of best-in-class MRO solutions to commercial and military customers around the world. Miskovic brings extensive industry experience through his executive leadership roles at Tecomet, Paradigm Precision and Pratt & Whitney. Miskovic offered, "Turbopower truly has differentiated capabilities with its customer base, technical team and facility that includes on-site engine test cells. The partnership with Battle Investment Group and Capricorn will allow us to accelerate current investments in new capabilities and footprint expansion. Our ultimate focus is supporting the customer and their critical missions."
Cliff Orr, Partner at Battle Investment Group, added, "Turbopower represents a unique strategic asset within the MRO market. The Company is very well-positioned to capitalize on market opportunities both domestically and internationally. We look forward to supporting Turbopower's sustained expansion and development, including significant internal investments and strategic acquisitions." Pug Winokur, Chairman and Chief Executive Officer of Capricorn Holdings, added, "I am excited to partner with both Turbopower and Battle Investment Group, working to drive the Company's continued growth and success."
Terms of the transaction, which closed on June 21, 2021, were not disclosed.
About Turbopower
Turbopower is a provider of maintenance, repair and overhaul services for gas turbine engines, auxiliary power units and component parts to military and commercial customers worldwide. The Company holds numerous quality and customer certifications, including FAA Part 145 repair station and Rolls-Royce Authorized Maintenance Center certification. Turbopower operates out of a state-of-the-art 100,000 square foot facility with on-site engine test cells. Turbopower was founded in 1974 and is based in Opa-Locka, Florida. To find out more, visit www.turbopowerllc.com.
About Battle Investment Group
Battle Investment Group is an Atlanta, Georgia-based, private investment firm that seeks to support the long-term expansion and success of enterprises and management teams operating in the North American defense, government, aerospace, telecommunications and industrial marketplaces. The firm currently manages multiple committed investment funds and employs an operating model that allows for long-term focus and commitment to its core operating principles. To find out more, visit www.battleinvestmentgroup.com.
About Capricorn Holdings
Capricorn Holdings is a Greenwich, Connecticut-based investment firm with an extensive history of supporting companies in the aerospace and defense marketplaces. Through three affiliate limited partnerships beginning in 1987, Capricorn has invested in and governed companies whose annual revenue exceeded $3 billion. To find out more, visit www.capricornholdings.com.
Source: Turbopower LLC
