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Yankee Pacific Aerospace, Inc. Formed to Provide New Engineered Product and Service Capability to Aviation Industry Customers

Rye, NH, September 1, 2006...In a move to broaden its capabilities in engineered products and services for its aviation customers, Yankee Pacific, LLC, of Rye, New Hampshire has formed a company with investment firm Hancock Park Associates of Los Angeles, CA. The closing took place July 31.

The new entity, known as Yankee Pacific Aerospace, Inc. (YPA) then acquired Executive Aircraft Completions (EAC) of Tulsa, OK and Jormac Aerospace of Clearwater, FL. Further acquisitions are planned.

"Our aim is straightforward" said YPA managing director Ken Goldsmith, Jr. "We want to build a family of smaller, but high-potential companies engaged in specialized engineered products and services for the aviation industry. Each YPA company will continue to operate autonomously, but will be alert to finding advantages to offer our customers through shared resources and expertise. At the same time, we will support our customers, as well as each company’s growth, through continued investment in capabilities and improved operating efficiencies.

"As a beginning, Executive Aircraft Completions, an aircraft interior design, engineering and certification firm, and Jormac, an engineering and manufacturing company specializing in primary and interior structural components, will each continue to build on their accomplishments in the VIP large-aircraft market.

"Each will offer their OEM and completion center customers increased value through expanded capabilities and product development, and will work together to bring the customer improved efficiencies in their shared industry." he added.

In concurrent closings on July 31, EAC, jointly-owned by Yankee Pacific, LLC and EAC vicepresident and general manager Rick Richardson, was first merged into YPA. The assets of Jormac Aerospace, Inc., owned by Jormac president Mike McAllister and chief operating officer Steve Jourdenais, were then acquired. The companies will operate as YPA divisions.

Richardson, in turn, has been named president and chief operating officer of EAC. Mike McAllister and Steve Jourdenais are to remain at their respective positions at Jormac, the company they founded in 1995. Richardson, McAllister and Jourdenais are also shareholders in YPA.

The members of the YPA board of directors are Mike Fourticq Jr. and Rick Foker, both principals of Hancock Park Associates, and managing director Ken Goldsmith, Jr.

Hancock Park Associates (HPcap.com) is a private equity investment firm based in Los Angeles, specializing in small to mid-sized companies in manufacturing and specialty retailing. Founded by Michael J. Fourticq, Sr. in 1986, Hancock Park holdings include Synchronous Aerospace Group, an integrated supplier of precision machined components and assemblies.

Yankee Pacific, LLC (YankeePacific.com) is an aviation investment and business development company headquartered in Rye, New Hampshire.

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