FT. WORTH — In 1997, Steve Townes, CEO of investment firm Ranger Aerospace LLC, bought Aircraft Services Group International, built it up, and in turn sold it to BBA Group, parent of Signature Flight Support. That was followed by a similar takeover of Keystone Helicopter Corporation, based in West Chester, PA, which was subsequently sold to Sikorsky. Townes’ lastest venture is centered around the acquisition of Texas Aviation Services (TAS), based here at Meacham Field.

Townes and partner Brian Nerney, COO, spearheaded the new initiative with the backing of Trinity Hunt, the largest single investor in the new deal and one of the businesses of the Hunt family of Dallas. [The Hunts also own the Kansas City Chiefs of the NFL.]

Comments Townes, “We’re now in chapter three, if you will — another consolidation; rotorcraft-focused; Texas-centric.

“Six years ago we said we’re going to make Keystone the largest and best helicopter tech services company on the East Coast, and we did. Now, we’re saying, starting with Texas Aviation Services and other acquisitions, we’re going to create the largest and best helicopter technical services company across the South.

“This is actually a bigger, stronger starting point than what we started with Keystone, in terms of location, facility size, technical capacity.”

The TAS deal was completed last May, for an undisclosed sum, and followed acquisitions of Integrated Flight Systems and the Platinum Aviation Group of Reno, NV, which will be relocated to North Texas.

Texas Aviation Services was founded by Woody Woodard, 77, who last year received the Charles Taylor ‘Master Mechanic’ Award. [Taylor was the first aviation mechanic, for the Wright brothers.]