For Immediate Release
May 31, 2011
Michael L. Bay
Evergreen International Aviation, Inc.
Relativity Capital L.P.
RELATIVITY CAPITAL ACQUIRES EVERGREEN MAINTENANCE CENTER, INC.
MARANA, AZ – Evergreen International Aviation, Inc. announced today an agreement with Relativity Capital L.P. to acquire Evergreen Maintenance Center, Inc. (EMC). Based in Arizona, EMC is the largest aircraft storage and maintenance facility in the world with 20 million square feet of ramp and storage area that accommodates over 400 aircraft.
For more than three decades, EMC has been a FAA Approved FAR Part 145 repair station with a FAA Class IV Airframe Rate (#ERKR675D). In addition, EMC has been consistently recognized by the FAA with the esteemed Diamond Award and is a charter member of The Aircraft Fleet Recycling Association (AFRA), which is focused on improving substantially within the aircraft industry.
Evergreen International Aviation, Inc. Founder and Owner Delford M. Smith said, “We are pleased to have the opportunity to work with Relativity Capital. The Maintenance Center has an honest reputation for reliability. The management group and the maintenance team are true professionals, and Evergreen will continue to induct our 747s for heavy maintenance checks. We are excited about the future for the Maintenance Center and its team members.”
Relativity Co-Founder and Senior Managing Director, Joyce Johnson-Miller said: “EMC is an impressive organization with a proven track record for delivering quality aircraft maintenance and repair services to its customers. We are excited to be in partnership with the EMC management team and we are committed to continuing to support the company through its long-term growth.”
About Evergreen International Aviation:
Evergreen International Aviation, Inc. (www.evergreenaviation.com ) is a portfolio of diverse aviation companies headquartered in McMinnville, OR. With international operating authority and a network of global offices and affiliates, Evergreen consists of an international cargo airline that owns and operates a fleet of Boeing 747s; a full-service helicopter company; an aircraft ground handling company; and an aircraft sales and leasing company. In addition to these endeavors, Evergreen owns and operates Evergreen Agricultural Enterprises.
Relativity Capital (www.relativitycapitalllc.com), with offices in Arlington, VA, New York, NY, and Bloomington Hills, MI, provides private equity capital to companies throughout all stages of the business cycle. Relativity seeks to invest in the aerospace / defense, industrials, and business and healthcare services sectors. Relativity’s key investment initiative is to drive operational excellence in partnership with management. The firm’s founders, Leslie L. Armitage and Joyce Johnson-Miller, bring more than three decades of private equity experience, most of which comes through senior positions at The Carlyle Group and Cerberus Capital Management, L.P.