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Steve Lewis
(520) 294-3481
Slewis@ascentmro.com
www.ascentmro.com
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AN OFFICIAL PRESS RELEASE

Marana Aerospace & Ascent Aviation

PRESS RELEASE DEC 15, 2016 06:00 MST

Marana, Arizona, December 15, 2016 (Newswire.com) -

Marana Aerospace Solutions (“MAS”) and Ascent Aviation

Services (“Ascent”) announced today a definitive merger agreement to create one of the

leading aircraft MRO for both wide body and narrow body aircraft in North America. The

combined company will provide maintenance, flight line, storage, and reclamation services

out of two facilities that spans more than 1,250 acres and includes five hangars.

Located in Tucson International Airport, Ascent has long been recognized for their

excellence in servicing narrow-bodied aircraft. MAS, with facilities located 35 miles from

Ascent, is a Class 4 repair station, approved to service the largest commercial aircraft in the

world.

The close proximity of the facilities and deep pool of high-quality technicians will optimize

staffing capabilities and project planning which will result in an expanded service offering,

increased productivity, quicker turnaround times and greater customer satisfaction.

David Querio, President and former President of Ascent from 2009 to 2013 said “Combining

Marana and Ascent means that customers can procure all of their maintenance, storage,

and end-of-life services with one partner while utilizing a single customer representative,

rather than requiring three or four different facilities. Beyond the obvious cost synergies,

there are exciting new growth opportunities for us. The companies share similar values and

approaches and we plan to leverage that to become the premier choice for our customers.”

Matthew Ray, CEO and former Chairman and CEO of Ascent added, “This combination is

highly synergistic, creating a flexible business model that will maximize each company’s

human capital, technical capabilities and footprint while capturing immediate cost savings

and driving significant value creation for both companies. We are creating a new kind of

industry leader.” Ray co-founded Victory Park Capital, where he served as Senior Partner

from 2007 to 2015.

In addition to Ray and Querio, leadership includes Jack Keating, Ascent’s Chief Commercial

Officer and General Manager, and Randy Buol, Marana’s Vice President of Operations.

In addition to approval from the United States Federal Aviation Administration (FAA), the

combined company will maintain approvals and certifications from regulatory authorities

globally, including the European Aviation Safety Agency (EASA) and the aviation agencies of

Bermuda (BDA/AMO), Brazil (ANAC), Canada (TCCA), Mexico (DGAC), and Nigeria (NCAA),

among others.

About Marana Aerospace Solutions

Located in Arizona, Marana Aerospace Solutions (“MAS”) is an internationally recognized

leader in commercial aircraft maintenance, storage and reclamation services for a wide

variety of commercial aerospace and leasing customers. MAS facilities include three

maintenance hangars and a large maintenance flight line. MAS offerings focus on

comprehensive full-life aircraft care for wide body aircraft, including heavy maintenance,

overhaul, commercial storage, component repairs, paint, interior, detailing, and end of life

options. As one of the world’s largest commercial aviation resources, MAS’s 1,200-acre

facilities include a recently upgraded 6,850-foot runway suitable for both commercial and

military aircraft. The maintenance center includes 460 acres of ramp and storage area that

can accommodate up to 400 aircraft, as well as over 35,000 square feet of repair shops for

avionics, accessories, composite structures, interior configuration, NDT testing and

inspection. Marana is a portfolio company of Monroe Capital, a Chicago-based asset

manager with over $3.5 billion in assets under management.

About Ascent Aviation Services

Ascent Aviation Services (“Ascent”) is a market leader in commercial aircraft maintenance,

storage and reclamation facility, with two maintenance hangars and line maintenance

focusing on narrow body aircraft. The company specializes in performing heavy

maintenance services, aircraft modification, transition and refurbishment work, aircraft

storage and reclamation services, and consigned part sales. Since 2002, Ascent’s workforce

has successfully completed more than 570 heavy maintenance visits for a wide range of

aircraft platforms, including Airbus, Boeing and Bombardier jets. Ascent operates in a

secure, 37-acre facility at Tucson International Airport with nearly 100,000 square feet of

hangar space, 30 acres of concrete ramp area, and 88,000 square feet of shop and secured

consignment space.

Contact:

David T. Querio

President

(520) 682-4181

david.querio@maranaaerospace.com

Source: Marana Aerospace Solutions