Ranger Aerospace Teams With Heli-X for Helicopter Sales Venture

FORT WORTH, Texas, March 6 /PRNewswire/ -- Ranger Aerospace, a private
equity consolidator currently specializing in investments in the rotorcraft
services industry, has teamed with Heli-X for the acquisition, refurbishment,
and re-sale of turbine powered high-end helicopters for domestic and
international helicopter customers and fleet operators. Heli-X (Helicopter
Exchange, Ltd.) is a DFW-based helicopter sales and brokering company that is
considered by Ranger's capital partners as an expert in rotorcraft appraisals
and transactions. The business model for this venture is based on mutual
sharing of risk and profit. On a preferred but non-exclusive basis, Heli-X
will source helicopter transactions; Ranger and its institutional partners
will fund both the equity and the senior floor financing for helicopter
purchases that are acceptable to Ranger's board. On a preferred but
non-exclusive basis, Ranger's helicopter overhaul and completion subsidiaries
will then perform refurbishments to the project helicopters. Heli-X will then
re-market the upgraded helicopters to its worldwide array of customers, and
Heli-X and Ranger will share in the profits upon resale, commensurate to their
respective risks. The venture is designed to expand the sales reach for
Heli-X, and provide additional MRO/Completions projects for Ranger's
subsidiaries. Ranger's equity capital partners will have certain minimum
levels of return predicted in each acquisition and resale, after repayment of
senior financing to Ranger's bank lenders.
Steve Townes, CEO and founder of Ranger Aerospace, said: "We are proud to
partner with Heli-X. They are experts in this field. We hope to do a lot of
helicopters with them this way, and the ultimate beneficiary will be our
mutual customers." The completions and refurbishment projects would be
accomplished by Texas Aviation Services at Meacham Field in Fort Worth, TX.
TAS is an award-winning 37 year old helicopter technical services company that
specializes in civilian completions and military retrofits. The Fort Worth
helicopter depot is 140,000 sq ft of hangars and shops, all integrated into a
cohesive technical services center that won the FAA's "Diamond Award" in 2007.
Chuck Hallett, one of the partners of Heli-X, said: "We are very excited
about our partnership with Ranger Aerospace and closer ties with Texas
Aviation Services. It is an important strategic relationship that will provide
Heli-X the financial resources and access to additional partners to expand our
capabilities to compete in a global aircraft market." Chuck Hallett and Tom
Larsen launched Helicopter Exchange, Ltd., in August 2002 with a commitment to
quality, value and customer satisfaction. An organization guided by executive
principals with decades of experience, Helicopter Exchange, Ltd., specializes
in assisting buyers and sellers in the acquisition, customizing and sale of
new and pre-owned helicopters. Through over 50 years of combined hands on
experience as rated helicopter pilots, sales and marketing executives, and
entrepreneurs, Heli-X has built an industry reputation for highly effective
helicopter sales and brokerage. The Heli-X team stays with the customer's
helicopter through the delivery or sale, as an integral manager of the whole
process. Helicopter Exchange, Ltd. presents a complete choice in helicopters
representing all major manufacturers and models. Expertise includes Agusta,
Bell, Eurocopter, MD, and Sikorsky Helicopters. Larsen said, "Customers can
have confidence that from day one, Helicopter Exchange, Ltd. will use our many
years of experience to help them make the right decision on selecting the
helicopter that best meets their requirements."
Ranger Aerospace, with offices in Irving, TX, is a privately held
investment and management holding company that partners with private equity
institutions to acquire and grow companies in aviation services and aerospace
support operations. Ranger and its co-investors add value to acquired
companies via seasoned veterans experienced in aviation services, aerospace
programs, engineering, finance, corporate development, MIS, marketing &
strategic planning, Total Quality Management, mergers & acquisitions,
post-merger integration, and turnarounds.
Additional Information can be found on the web at www.heli-x.com,
www.rangeraerospace.com, www.integratedflightsys.com, and
www.texasaviationservices.com. Previous Ranger Aerospace investments
can be viewed at www.keystonehelicopter.com and www.asig.com.
Forward Looking Statements: The Company from time to time may discuss
forward-looking information. Except for factual historical information, all
forward looking statements are estimates by the Company's management and are
subject to various risks and uncertainties that are beyond the Company's
control and may cause actual results to differ materially from management's
expectations.
SOURCE Ranger Aerospace & Aeronautics, Inc.

Steve Townes, President & CEO of Ranger Aerospace & Aeronautics, Inc.,
+1-972-915-6500, stownes@rangeraerospace.com