PRECISION AVIATION GROUP EXPANDS AIRLINE AVIONICS AND ENGINE SERVICES CAPABILITIES WITH ACQUISITIONS OF ICON AEROSPACE AND TAG AERO

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ATLANTA, Oct. 22, 2024 /PRNewswire/ -- Precision Aviation Group, Inc. (PAG), a leading provider of maintenance, repair and overhaul (MRO) and value-added services to the global aerospace and defense industries, has acquired ICON Aerospace (ICON) and TAG Aero (TAG). These strategic acquisitions significantly enhance PAG's avionics and engine services capabilities while broadening its product offerings for the airline market.

ICON Aerospace - A PAG company

ICON, headquartered in Indian Trail, North Carolina, is a market leading provider of MRO services specializing in Avionics, Accessories, and Electronics. TAG, based in Rock Hill, South Carolina, is a premier provider of MRO services specializing in auxiliary power units (APUs). TAG provides a comprehensive suite of services including repair and overhaul, outright sales, leasing and exchanges for Honeywell GTCP-85, 131, and 331 Series APUs. The addition of ICON and TAG to PAG will allow the combined customer base to benefit from the expanded range of product and service offerings.

David Mast, President and CEO of PAG, commented: "The acquisition of ICON and TAG significantly bolsters our capabilities in our Engine and Avionics services businesses, and provides expanded product offerings for the airline market. The addition of ICON and TAG's skilled workforce of over 200 employees, their experienced leadership teams, and more than 150,000 square feet of state-of-the art facilities, enables us to better support the needs of our customers."

Jeff Lambert, CEO of ICON and TAG, added: "We are excited to join PAG and leverage their resources and global reach. This partnership enhances our ability to serve our customers, providing them with faster service times and broader technical capabilities."

About Precision Aviation Group (PAG)

Precision Aviation Group (PAG) is a leading provider of maintenance, repair and overhaul (MRO) and value-added services to the aerospace and defense industries. With 24 FAA-approved repair stations and 27 locations, 1,000+ employees, and over 1.1 million square feet of production/distribution facilities worldwide, PAG offers comprehensive MRO services on over 200,000 product lines. PAG supports operators in the Airline, Business and General Aviation (BGA), and the Military markets through its Inventory Supported Maintenance, Repair, and Overhaul (ISMRO®) business model, with focused capabilities in Avionics, Engines, Components, and Manufacturing/DER Services. (www.precisionaviationgroup.com)

About ICON Aerospace and TAG Aero

ICON Aerospace is an FAA/CAA/EASA-approved repair station specializing in Avionics, Accessories and Electronics. TAG Aero is an FAA/CAA/EASA-approved repair station offering APU repair and overhaul, outright sales, leasing and exchange services to the aerospace industry.
(www.iconaerospace.com) and (www.tag.aero)