MOSES LAKE – Aviation Technical Services (ATS) has new ownership.
The Everett-based provider of maintenance, repair and overhaul services opened a new Moses Lake facility in March.
ATS was recently purchased from the global Macquarie Group by members of the company’s senior leadership team and a group of aerospace investors.
Terms of the purchase agreement were not disclosed in Friday's announcement. Marcquarie reportedly purchased ATS - formerly Goodrich Aviation Technical Services - for $58.4 million in 2007.
The new ATS ownership group is headed by current President and CEO, Matt Yerbic, and is backed by Wells Fargo, NewSpring Capital and Greenpoint Technologies of Kirkland.
ATS started in 1970 and now has six facility locations, making it Washington’s second-largest aerospace company with more than 1,000 employees.
The new ownership will give the company traction to expand, according to President and CEO Matt Yerbic.
“ATS is proud to take this important step to secure our future and ensure long-term stability for our customers, employees and company,” he stated. “We plan to grow, diversify our service and product offerings, create more jobs and to drive the growth of the aerospace industry in Washington State and beyond.”
ATS employs about 50 people in Moses Lake, with stated plans to add 50 more jobs in the coming years.