Balance Point Capital Advisors, in connection with its affiliated funds Balance Point Capital Partners V, L.P., and Balance Point Capital Partners VI, L.P., announced an investment in Essential Turbines, a provider of maintenance, repair and overhaul (MRO) services for aircraft engines. And Balance Point provided debt and equity in support of the deal, along with private equity investment firm Swift Anchor Holdings.
Launched 30 years ago, Essential Turbines is an MRO provider, and Rolls Royce FIRST Network AMROC, focused on providing performance, quality and safety for aerospace customers across end markets. And ETI is a specialist in the Rolls-Royce M250 and RR300 engines (powering many of the world’s most well known helicopters) and has expertise in aircraft engines.
Swift Anchor, Balance Point and Essential Turbines will focus on continuing to build the Company’s presence as a Rolls Royce FIRST Network partner and expanding additional capabilities. As part of Swift Anchor’s hands-on and active ownership approach, Gannon Gambeski (a Swift Anchor Partner with extensive operating experience) will assume the role of CEO of Essential Turbines going forward.
KEY QUOTES:
“I am excited to be partnering with Swift Anchor and Balance Point for the next stage of ETI’s growth. I was drawn to their mission-driven perspective, long-term outlook and their owner-operator mentality. I am confident that they will enable our team, customers and partners to benefit from further resources, capital and operating expertise. We remain committed to delivering on: Quality is Essential. I am excited to remain involved in ETI as a shareholder, board member and senior advisor.”
- Michael E. Guntner Jr., current CEO and President of ETI – who will retain a minority ownership stake in ETI and remarked on the transaction
“Mike and his team have formed a market-leading MRO with a phenomenal reputation. We are looking forward to strengthening ETI’s focus on delivering customers the highest level of quality and service, while providing ETI’s employees with a rewarding work environment as we continue to grow the business.”
- Elias Lebovits, Managing Partner and Founder of Swift Anchor
“Balance Point is thrilled to have partnered with Swift Anchor on this transaction, and we look forward to a new phase of growth at ETI. ETI is well positioned to leverage the playbook that Mr. Gunter has established over 30 years, while continuing to find new ways to offer mission critical support the Company’s growing customer base.”
- Balance Point Managing Partner, Seth Alvord
