Plans To Make The Company 100% Employee-Owned

Leading Edge Avionics CEO Kathryn Brewer has acquired the company and will give an ownership stake to employees later this year through an employee stock ownership plan (ESOP). Brewer acquired Leading Edge from aviation entrepreneur Mike Manclark, who is known for creating high growth aviation companies.

Manclark's decision to step away is based on pursuing his lifelong dream of owning and restoring OV-10 aircraft - historic warbirds originally designed for military operations in Vietnam - and his desire to focus more time on his philanthropic efforts through his non-profit foundation, Mangic. He is also looking forward to spending time at his new home in Aspen Colorado.

Based in Santa Ana, CA with clients across the country, Leading Edge Avionics is one of the fastest-growing companies in the avionics segment serving aircraft owners and operators throughout California. The acquisition makes Leading Edge Avionics one of the only female-owned avionics companies in America, and one of the few where employees will maintain a 100% stake. Brewer also plans to receive WBENC certification this year.

"This ESOP transaction will have an overwhelmingly positive effect on the company by elevating the historical bond among our employees who are some of the best in the business," said Kathryn Brewer, CEO of Leading Edge Avionics. "Full ownership will not only increase retirement security for our Employee Owners, but will also reinforce their commitment to our loyal and growing customer base. Employee ownership stimulates enthusiasm and changes lives. It's truly a win-win for our employees as well as our customers."

Originally founded in 1970 as Western Avionics, the company established itself as the leader in Southern California retrofit avionics, including everything from autopilot, navigation, GPS installation and troubleshooting, to in-house bench repair of avionics equipment. Since then the company has grown with the launch of a new e-Commerce website (http://www.LEAvionics.com), additional technicians and management professionals, and state-of-the-art mobile teams that now bring Leading Edge Avionics to virtually every Southern California airport.

Manclark first met Stan Erickson and Scott Gregory, founders of Western Avionics at the age of 19. He was a rookie aircraft detailer and he punctuated his career growing his aviation company to over $60 million in sales. "When Manclark acquired Western last year, his goal was to give the company a clear path for growth before handing it over to the employees who worked so hard to make it successful," added Brewer. "His expertise and enthusiasm will be missed, but he's leaving the company in good hands. We are both thrilled about sharing the wealth and hope it inspires an even bigger sense of pride that our employees already demonstrate every day."

(Source: Leading Edge Avionics news release)

FMI: www.LEAvionics.com