Azalea Capital is pleased to announce The Azalea Fund IV, L.P.’s recent investment in InTech Aerospace through the holding company, Ranger Aerosystems, LLC (Ranger). InTech Aerospace is a leading maintenance, repair and overhaul (MRO) company specializing in commercial and military airplane interiors and components. Azalea Capital partnered with Argosy Capital, Mr. Steve Townes, Ranger’s CEO, and InTech’s existing management team in this investment.
InTech Aerospace is headquartered in Houston, Texas. The company was founded in 1998, and has operations and employees in four locations in the U.S. InTech produces and refurbishes heavy wear aircraft interior components such as seating, floor panels, windows, wall panels, trays, galleys and lavatories. InTech’s client list includes regional airlines, mainline carriers, large OEM’s, aircraft leasing companies, and major MRO facilities. Known as the “interior experts,” the Intech Aerospace team can fulfill most any interior component need for the airline industry.
InTech Aerospace is investing and expanding geographically in each of its lines of business, keeping pace with rising industry trends and customer demands. The overall airline industry’s fleet is expected to double in the next 20 years (forecasts by Boeing and Airbus), and many interior components require periodic upgrades and maintenance. Published reports recently cited over $4.5 Trillion in new orders for commercial airplanes through the year 2033, and those planes (which will fly for 30 years or more), coupled with the existing fleet, represent many millions of man-hours of required repairs and refurbishments.