Carpenter Avionics in Nashville Acquired

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Momentum Aviation Holdings, Inc. announced today it has acquired Carpenter Avionics, Inc., an award-winning, privately held aviation services company based in the Nashville area. Carpenter is an authorized FAA Repair Station that sells, installs and maintains avionics systems for general aviation aircraft, including business jets, twin turboprops and single-engine piston airplanes. Carpenter has served customers across the country and internationally for more than 33 years.

“After an extensive nationwide search, we concluded that Carpenter Avionics would be the ideal foundation upon which to build and grow our business and serve customers,” said Mark Lee, President of Momentum Aviation Holdings. “I am elated with the opportunity to return to Nashville and begin working with this talented team. We will combine Carpenter’s sterling reputation and proven practices with new innovation to continue to be the aircraft service center customers trust for years to come.”

John DenDekker, an effective and experienced avionics leader, who has served as Carpenter’s General Manager since 2011, will continue in that role and now will report to Lee.

“In life, a time comes when it feels appropriate to transition your business to the next generation,” said Fran Carpenter, who has served as CEO and President at Carpenter Avionics since 2010. “I am confident that with this new leadership team’s experience and vision, Carpenter Avionics will thrive and grow.”

Momentum acquired 100% of Carpenter Avionics’ shares in this stock purchase. Other terms of the transaction were not released. Neri Capital Partners (www.nericap.com), an investment bank and advisory firm based in Atlanta, Georgia, was the exclusive advisor for Carpenter Avionics.

About Carpenter Avionics, Inc. Bob Carpenter founded Carpenter Avionics in Nashville in 1981, after serving in the US Air Force and working in avionics for 25 years. He led his company to the top ranks of the industry. With Bob’s background and his team’s experience and talent, Carpenter Avionics earned recognition by Pro Pilot Magazine readers as one of the top avionics shops in the country for 20 years! Bob is no longer with us, yet his legacy lives on through a dedicated team committed to the highest quality workmanship, integrity and customer satisfaction. The company is located in the greater Nashville area at the Smyrna Rutherford County Airport (KMQY), the busiest general aviation airport in Tennessee, and third-busiest airport overall in the state, placing Carpenter Avionics within 600 miles of 80% of the U.S. population. www.CarpenterAvionics.com

About Momentum Aviation Holdings, Inc. Momentum Aviation Holdings, Inc., based in Naples, Florida, is a privately held company established to acquire and operate a set of complementary aviation service businesses. Momentum’s founder, Mark Lee, is an accomplished leader with diverse experience in software, telecom and aviation within respected organizations such as Microsoft and Nortel. More recently, he has held senior leadership roles in marketing and business development at Honda Aircraft, Aspen Avionics and Diamond Aircraft.

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