January 5, 2009



Since its founding in 1990 by Barry Mazer, Aviation, Power & Marine, Inc. (“AP&M”) has established itself as the world’s largest independent distributor of parts and components for the aeroderivative gas turbine market. Since Barry’s passing in 2006, AP&M employees have continued his legacy in distributing approximately 13,000 parts and providing on-site field services to operators in a variety of end markets: electrical utility and power generation; naval and commercial marine propulsion; pipeline transmissions; and offshore platform enterprises. AP&M also supplies parts to repair facilities around the world and coordinates engine leases and component repair services.

In order to support new and exciting market opportunities available to the company, a decision was made by ownership to evaluate recapitalization options. Through that process, a partner was identified and we are pleased to announce the sale of AP&M to Pfingsten Partners, L.L.C.

You have been a valued customer and a significant part of our growth and success. We, the employees of AP&M, truly appreciate the loyalty and support that has been an important part of our relationship with you throughout the years. We are eager to build on this success with you as Pfingsten adds its significant financial resources and operational expertise to further strengthen AP&M’s leadership position in aeroderivative engine parts for a variety of markets. Operational Excellence and Continuous Improvement will resonate throughout the organization. We will continue to work closely with you to ensure we meet and exceed your expectations for cost, quality, inventory availability and service excellence.

Pfingsten Partners, L.L.C., based in Deerfield, Illinois, is an operationally oriented private equity firm formed in 1989 to make equity investments in middle market manufacturing, distribution and business-to-business service companies. They have acquired 63 companies since their inception and are dedicated to providing capital, corporate finance, and operational resources to build better businesses. For more information, visit www.pfingstenpartners.com.

AP&M is excited about what the future holds for the company. We look forward to our ongoing relationship with you and the mutual growth and profit opportunities we will have as AP&M strengthens its position as a leader in aeroderivative engine parts and related services. Our focus in the future is to:
• Expand our parts and service offerings of additional engine types and brands
• Enhance our inventory availability
• Penetrate more domestic and international markets
• Expand lease engine placements; and
• Acquire complementary businesses

In connection with the change of ownership, I have assumed the position of President and CEO of Aviation, Power & Marine, Inc. I look forward to the opportunity to meet you and explore ways that we can further strengthen our mutual business relationship.

We truly appreciate the loyalty and support that has been an important part of our growth and success with you throughout the years. Please feel free to call me or your key sales contact at AP&M with any questions.


Mark G. Essig
Chief Executive Officer