TROUBLED aircraft maintenance provider Pemco World Air Services has found a buyer.
Pemco is to be sold to Avion Services Holdings - an affiliate of Sun Capital Partners.
“This is a very positive development,” says William Meehan, chief executive officer of Pemco.
“It reaffirms the company’s strategy that it undertook in restructuring Pemco to emerge with its strongest ever balance sheet and excellent capital structure.
“I am very excited… our best days are ahead of us.”
Pemco, which went into bankruptcy protection in March, anticipates that the sale will be completed before the end of August.