Thielert: “As An Established Brand, Superior Air Parts Will Be A Key Cornerstone Of Our US Presence.”

Thielert AG is taking over the PMA and aircraft engine manufacturer Superior Air Parts, Inc. (SAP) based in Coppell near Dallas in Texas, USA. SAP is the world’s leading producer of engine spare parts for small aircraft used for general aviation purposes. The company also manufactures gasoline engines for this type of aircraft. This acquisition will enable SDAX-listed Thielert AG to rigorously expand its range of products in the area of piston aircraft engines too. Currently, Thielert is already market leader in the field of aviation certified jet fuel/diesel, piston aircraft engines. In similar fashion to Thielert, SAP products stand out from others in the market thanks to their high technical quality.
 
"With its outstanding products and established brand name, Superior Air Parts is the ideal acquisition to help us enhance our market position. Our acquisition of Superior Air Parts marks our final step along the road into the US-American market for engines and engine components and the expansion of our presence there", CEO Frank Thielert said. Agreement on the acquisition of SAP was reached on the evening of March 13, 2006. The value of the transaction is said to be around the 10 million US dollar mark, less than 15 percent of the IPO income earned by Thielert AG last November.
 
As a so-called PMA (Parts Manufacturer Approval) manufacturer, SAP has been certified for the manufacture of engine spare parts for aircraft engines built by Lycoming and Continental. Moreover, SAP is a leading supplier of replacement engines in the secondary market. The company has just recently launched a piston aircraft engine under the brand name "Vantage Engine", the first one of its kind to have been certified in the USA for fifty years. All SAP products have been certified by the American civil aviation authority FAA (Federal Aviation Administration). Hitherto, the company, which was founded in 1967, belonged to the investment group RSTW.

SAP is a longstanding customer of Thielert in the area of aircraft engine components. Its range of engine components, conventional gasoline engines and innovative CENTURION jet fuel/diesel engines enable the company to cover all needs in terms of engines for small aircraft. Use will be made of SAP’s existing distribution and service channels in the US markets for all products. Furthermore, Thielert will be organising seminars at SAP’s headquarters in Dallas from this March in the maintenance of its CENTURION aircraft engines so that its US customers can also be guaranteed professional service provided locally.

Founded in 1989, Thielert Group is the world’s leading supplier of certified jet fuel/diesel piston aircraft engines for general aviation purposes. As a certified development, production and maintenance organisation, Thielert AG was the first company in the world to be given a license for a jet fuel, piston-driven engine. The jet fuel engines in the CENTURION range reduce the level of direct flight costs by up to 60 percent as compared with conventional aircraft engines commonly used today. Moreover, the company has been developing and manufacturing components for high-performance engines and digital engine controls for more than sixteen years. It also devises production strategies for engine components and full engine adaptations for the automotive, military technology and aviation sectors. In the 2005 financial year, Thielert generated consolidated sales of 37.6 million euros (2004: 24.2 million euros) and earnings before interest, taxes and amortisation (EBITDA) of 16.1 million euros (2004: 11.3 million euros). At its plants in Lichtenstein/Saxony and Hamburg, the company employs a workforce totalling 275.

Superior Air Parts, Inc. was founded in 1967 and is certified as a manufacturer of aircraft components (PMA – Parts Manufacturer Approval). Its headquarters are in Coppell near Dallas in Texas, USA. Superior has 53 employees and a fully developed service and distribution network in the USA. Sales generated in the 2005 financial year stood at around 25.3 million US dollars. The gross margin for the same year amounted to 28.2 percent (as per US-GAAP).

FMI: www.thielert.com, www.superiorairparts.com