YPA Making its Mark Through Strategic Acquisitions, Internal Growth
Focus on smaller, specialized companies pays off for NH firm
The 50Dash4 performance upgrade for the Falcon 50 from Yankee Pacific Aerospace and West Star Aviation.
NBAA Convention, Orlando, October 6, 2008.......New Hampshire-based Yankee Pacific Aerospace, Inc (YPA) is establishing itself as a bona fide, active participant in the world of VIP interior engineering and major systems and component manufacture, as well as developing value-added modification programs, such as the performance upgrade program for the Falcon 50 business jet.
YPA was formed in July, 2006 when its current executive team, along with private equity partner Hancock Park Associates, recognized a solid market opportunity in acquiring and operating smaller, specialized aviation engineered product companies poised for growth. With YPA's help, these companies were felt to have the highest potential to provide the exceptional value in products and services sought by their customers. Such companies are often too early in their development to fit effectively or efficiently within larger company portfolios but can prosper with understanding ownership, additional infrastructure and capital for growth. Since 2006 , YPA has grown by 80% as its divisions make inroads into their respective markets.
The YPA Executives, left to right: Ken Goldsmith, Managing Director, YPA; Steve Jourdenais, President, Jormac; Mike McAllister, VP - Engineering, Jormac; Daron Dryer, VP - Mechanical Systems, EAC; Rick Richardson, President, EAC & CEO of Cabin Innovations. Absent are recent additions to the executive team: Danny Wintz, President of Cabin Innovations; Frank Nelson, VP - Programs, Jormac.
The company's current divisions include Executive Aircraft Completions (EAC) of Tulsa, OK, a design/engineering company supporting VIP widebody completion centers and aircraft OEMs; Jormac Aerospace of Largo, FL, designer and manufacturer of interior liner and bin systems for the VIP widebody market and secondary aircraft structure; and recently acquired Cabin Innovations of Lewisville, TX, which produces turn-key galleys and interior cabinetry.
Ken Goldsmith Jr., one of YPA's founders and its Managing Director, is confident YPA has read the market correctly over the long term. "There is a longer than usual completions backlog and YPA companies are strongly positioned to participate in that, particularly in the upper-end, wide body VIP interior marketplace, and in both existing and emerging large cabin aircraft. We all are familiar with the cyclicality that can be part of the business aviation market, particularly when considering the current economic turmoil, but the large cabin segment is so far proving resilient."
Looking ahead, Jormac, which recently expanded into a new state-of-the-art 48,000 sq ft facility to meet current demand, has launched an internal project to develop a VIP liner system for the new Boeing 787, in cooperation with the major completion centers. Likewise, Cabin Innovations, responding to similar VIP interior demand, has leased a new 39,630 sq ft cabinetry engineering and manufacturing facility that it will occupy beginning in December.
The shop floor at Jormac Aerospace's new 48,000 sq ft facility.
YPA, through a joint venture with West Star Aviation, Inc., has also fielded the FAA-certified performance upgrade for the original Falcon 50 super mid-size business jet. EASA certification has been applied for and is in process, with approval still expected this year. Known as theĎ50Dash4 Performance Upgrade', the STC installs higher thrust Honeywell TFE-731-4 engines on the Falcon 50 for significantly greater range and payload, shorter runway requirements, better high-hot and short-hot performance and higher direct altitudes. Falcon 50 aircraft equipped with the STC are being referred to as "50Dash4's". Two 50Dash4 aircraft are available for purchase from YPA and West Star. These aircraft, sn 170 and sn 088, are featured at the NBAA 2008 static display at the Jet Effect and West Star display sites respectively.
As announced at NBAA 2007, the YPA/West Star joint venture is also working with Safe Flight Instrument Corporation to install and certify auto throttle systems for the Falcon 50 and Cessna CitationJet family of aircraft. "Demand from new aircraft OEM's has put pressure on Safe Flight resources, causing our retrofit projects to slip, but we are still enthusiastic about the viability of the projects, particularly for the single-pilot CJ series operator" reports Goldsmith. "We will be announcing revised schedules in concert with Safe Flight soon".
Ken Goldsmith, Yankee Pacific Aerospace Managing Director
"There are certainly opportunities available to us," Goldsmith added. "Our challenge is to find the right size companies with the right engineered products, run by the right managers. We treat each other like family, so the fit must be right."
Yankee Pacific Aerospace is an exhibitor (Booth 2066) at this year's NBAA convention in Orlando.
Contact: Ken Goldsmith
Cellular on-site: 603-957-1633
Media contact: Jamie McIntyre
President, Romeo Oscar, Inc.