Aviation, Power & Marine, Inc. Acquires Capital Spares Assets from Allied Power Group

Monday, November 22nd, 2010

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FOR IMMEDIATE RELEASE

Aviation, Power & Marine, Inc. Acquires Capital Spares Assets from Allied Power Group

BOYNTON BEACH, FL November 22, 2010 – Aviation, Power & Marine, Inc. (“ap+m”) today announced it has acquired certain capital spares and other assets from Allied Power Group, LLC, a Houston, TX-based provider of repair services for heavy duty industrial gas turbine (“IGT”) engines.

“The addition of key assets from Allied expands ap+m’s capabilities into the heavy duty gas turbine market, including both hot gas path parts and consumable parts” said Jim Walsh, President of ap+m. “We have long been recognized as the premier independent distributor of parts for aeroderivative gas turbines. This acquisition enables ap+m to offer a comprehensive solution for our customers who operate not only aeroderivative IGTs but frame IGTs as well. It is a natural extension of our core business, and dovetails with our rapidly growing ‘supply chain program’ approach to inventory management.”

In addition to the expansion of its parts offering, ap+m announced that Michael Elliott, former Executive Vice President with Allied, has joined ap+m as Vice President. Elliott brings a wealth of industry experience and knowledge with him, and will further strengthen ap+m’s fine management team.

Aviation, Power & Marine, Inc. is the largest worldwide independent distributor of aeroderivative gas turbine engine parts. As a stocking distributor of over 14,000 parts, ap+m provides internal and external engine parts as well as package parts to operators in a variety of end markets: electrical utility and power generation; naval propulsion; and oil and gas exploration and transmission. ap+m also supplies parts to a variety of gas turbine repair facilities.

Pfingsten Partners, L.L.C., an operationally focused private equity firm based in Chicago, Illinois, is the majority shareholder of ap+m. Financial terms were not disclosed.

CONTACT:
Jim Walsh
President
Aviation, Power & Marine, Inc.
Phone: (561) 742-1680
JWalsh@apm4parts.com