16
Jul

Albuquerque Business First
PUBLISHED: Jul 16, 2015, 7:04am MDT
By Sal Christ

Rio Rancho aircraft repair company, Aero Mechanical Industries, has been acquired by Florida-based aviation and aerospace company, AerSale.

Founded in 2004, AMI specializes in aerospace maintenance services and operates out of a 100,000-square-foot repair space at 4901 Rockaway Blvd NE. The company has five additional work centers and a machining support center attached to its main facility. Terms of the deal were not disclosed.
Over the past 10 years, AMI has experienced ups and downs — laying off almost 30 employees during the recession, but later rehiring most of them after the aviation industry rebounded. In December 2006, AMI raised $500,000 in funding from local venture capital fund New Mexico Community Capital.AMI’s president, Mark Ozenick, said in a statement that, “Leveraging AMI’s maintanence, repair and overhaul (MRO) expertise with AerSale’s vast spares inventory and global parts distribution network, positions AMI to become a world leader in aftermarket aircraft spares services.”
While approximately 65 employees are affected by the acquisition, the company will remain in Rio Rancho. Additionally, the Sandoval Economic Alliance is facilitating the transition through the exploration of “eligible incentive programs, growth planning, and workforce — along with local and statewide business support,” according to Tiffany Avery, director of marketing and communications for SEA.
Made official July 2, the sale comes about three months after AMI filed for Chapter 11 bankruptcy protection.
For the original article in the Albuquerque Journal, click here.
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