Airforce Turbine Service Partners with McNally Capital to Accelerate Global Growth

ATS’s Strategic Partnership with Private Equity Sponsor to Propel Aerospace Aftermarket and PT6A Engine MRO

MATHIS, Texas--(BUSINESS WIRE)--Airforce Turbine Service, Ltd. (“ATS” or the “Company”), a leading global aviation services company specializing in maintenance, repair, and overhaul (“MRO”) of the PT6A turboprop engine family, announces a strategic partnership with McNally Capital (“McNally”), a growth-oriented private equity firm specializing in aerospace & defense and industrial technology & services investments in the middle market.

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 an important inflection point in its growth, with significant opportunities ahead to expand and scale the business,” said Chris Carson, Managing Partner and Owner of ATS. “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.”

“This partnership with McNally Capital represents a significant milestone for ATS,” said Augustine “Augie” Lara, Chief Operating Officer. “McNally brings deep aerospace expertise, a long-term mindset, and a strong appreciation for the mission-critical nature of what we do. With their support, we are well-positioned to expand our capabilities, invest in our people and infrastructure, and better serve operators navigating aging fleets, rising utilization, and ongoing supply chain challenges.”

Ravi P. Shah, Partner at McNally Capital, highlighted the strategic rationale for the investment and McNally’s conviction in ATS’s platform and growth potential. “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. “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.”

The acquisition of ATS marks McNally Capital’s first platform investment out of McNally Capital Fund III, LP, and was completed alongside Rob Wilson, who will serve as Executive Chairman of ATS. Rob is a longtime McNally Capital industry partner and former President of Business Aviation & General Aviation at Honeywell Aerospace, bringing deep operational and leadership experience across global aviation services and turboprop engine platforms.

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/

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.