KRG Capital Portfolio Company PAS Technologies Enters into Agreement to Be Acquired by StandardAero Holdings, Inc.

DENVER—(BUSINESS WIRE)—KRG Capital Partners (“KRG”), a Denver-based buyout firm, has entered into a merger agreement to sell PAS International Holdings, Inc. (“PAS” or the “Company”), a leading provider of OEM and aftermarket aerospace and industrial gas turbine (“IGT”) components as well as oil & gas valve components, to StandardAero Holdings, Inc. (“StandardAero”).

“We have really enjoyed working with the PAS management team. They have done an excellent job of improving our plant-level capabilities and in the process enhancing our reputation with our customers for on-time service and leading-edge quality control. PAS is a great fit with StandardAero and we are confident the PAS team will enjoy continued success with their new strategic partner,” said Chuck Hamilton, Managing Director of KRG.

PAS’ Chief Executive Officer, Tom Hutton, added, “Through organic capital investment and strategic initiatives, the partnership with KRG allowed us to strengthen our ‘one stop shop’ capabilities that includes both manufacturing and a full set of special processes in order to enhance our value proposition to some of the world’s leading OEMs. We thank KRG for their support and are excited about continuing to execute our growth strategy as part of StandardAero.”

KRG acquired PAS in October 2010. The sale represents the 11th exit in KRG’s $1.96 billion Fund IV.

Houlihan Lokey and Alantra served as financial advisors and Brownstein Hyatt Farber Schreck served as legal advisor to PAS on the transaction.