“I’m pleased to join the AGC family of companies,” commented Mr. Hundley. “The AGC group has a great growth strategy planned for its Composites Group, and for its expanding Aerospace & Defense portfolio.  I look forward to leading Unitech Composites and Structures in this exciting time in the aerospace industry.”
 
Prior to joining Unitech Composites & Structures, Mr. Hundley held senior leadership positions with aerospace and defense corporations such as Safran, Lockheed Martin, General Dynamics and M7 Aerospace. Most recently Mr. Hundley was President and COO for A&T Systems, Inc.  Mr. Hundley holds Master of Business Administration and BS degrees, and has completed senior leadership and lean enterprise programs at the Lockheed Martin Institute, and Program Management at the General Dynamics Institute.

About Unitech Composites and Structures
Unitech designs and manufactures composite structures in commercial and military aerospace markets. The company maintains continued commitment to innovation, quality, and flexibility towards the requirements of individual airlines and OEMs. Unitech operates within the Composites Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

About Veracity Technology Solutions
Veracity develops customized non-destructive inspection solutions for customers in the aerospace and defense and the power generation industries. Using proven, proprietary technology to check for potential defects, Veracity’s methodology helps customers extend the service life of high-value assets, lower inspection costs, and eliminate hazardous processes. Veracity operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, supplies technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Hayden, Idaho – Unitech Composites and Structures, Inc. (Unitech), an AGC Aerospace & Defense company, has been awarded a contract to design and produce a next generation lightweight, composite overwrapped pressure vessel (COPV) for the US Army Portable Helicopter Oxygen Delivery System (PHODS).

“Unitech is honored to work with the Army on this new and improved composite overwrapped pressure vessel,” stated Alan Haase, President of Unitech and the AGC Composites Group.  “This next generation PHODS vessel will provide our soldier with longer oxygen delivery duration as well as a lighter weight vessel. Designing and manufacturing a high quality product that helps our military is extremely important to us.”

Unitech, using state of the art equipment and advanced composite materials will deliver a lighter and more capable vessel which will enhance the overall performance as compared to the first generation PHODS system.  The new COPV design is backward compatible, so it may be used with older, currently fielded pressure vessel systems.  This technology is also available and being evaluated for other platforms.

ABOUT UNITECH COMPOSITES AND STRUCTURES
Unitech designs and manufactures composite structures in commercial and military aerospace markets. The company maintains continued commitment to innovation, quality, and flexibility towards the requirements of individual airlines and OEMs. Unitech operates within the Composites Group of AGC Aerospace & Defense.

ABOUT AGC AEROSPACE & DEFENSE
AGC Aerospace & Defense, the operating portfolio of aerospace and defense private equity group, Acorn Growth Companies, is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“As the award indicates, Valair is one of the fastest growing privately owned companies in the metro area,” commented Jeff Snyder, President of Valair. “We understand the responsibility we have to all of our stakeholders and work to exceed those expectations. Our employees enjoy the work that they do, so performing over and above is part of our character.”

To be eligible for the award, companies must be headquartered in the Oklahoma City metro area with more than one million dollars in operating revenue. The winners meet those requirements and exemplify creativity, an entrepreneurial spirit, and have experienced significant revenue growth.

A full-service aircraft maintenance, repair and overhaul (MRO) facility with a long history in Oklahoma, the company has experienced over 25 percent revenue growth in the last year.  Valair is the second AGC Aerospace & Defense company to receive a Metro 50 Award for exceptional growth in revenues and in creating high-value, high paying jobs, locally.

“We would be honored to receive this award under any circumstances. But, to exhibit the level of growth that the Metro 50 committee recognizes, in today's economic environment, is a feat with which we are doubly proud” stated Darryl Wilkerson, President of the AGC Integrated Defense group.  “This achievement directly impacts the health and vitality of our community. We congratulate all the Metro 50 Award winners.”

About Valair Aviation
Valair, an FAA Part 145 repair station, functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. The company operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, is a global supplier of technologies, systems, and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

CAT has developed numerous enhancements for the King Air fleet such as unique exhaust gas extractors (EGE’s) that improve fuel efficiency, Soft Touch Tires that not only enable remote area landings but also increases the tire life, CAT Cargo Pods which expand the carrying capacity of the aircraft, and CAT High Density Light Weight interiors which allow for alternate seating configurations.  All of these modifications are FAA certified.

About Commuter Air Technology
CAT focuses on delivery of certified aircraft and aircraft modifications, including performance and flight enhancements, commuter and high-density passenger systems, corporate reconfigurations, cargo conversions, and a full range of highly specialized military and special mission air operations and support. In addition to innovative performance enhancements, CAT’s services include consultation, pre-purchase inspection, engineering, and program management. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

Gathright joined CAT in October 2010 as a line pilot and has since deployed to Afghanistan where he served as an Aircraft Commander and later as the Pilot Site Lead.  Prior to joining CAT, Gathright served in the United States Air Force for over 20 years amassing over 5,700 flight hours as an instructor and evaluator pilot.  Gathright served as the T-43 Program Manager at 19th Air Force Headquarters and was an Aircrew Standardization and Evaluation Team member, an integral part of Air Education and Training Command's Inspector General Team.  Gathright's flying resume includes the T-37, T-38, T-43, KC-135, Boeing 737, 757 and 767 aircraft. He is a graduate of the University of Arkansas with a Bachelor of Science in Quantitative Analysis.

About Commuter Air Technology
CAT focuses on delivery of certified aircraft and aircraft modifications, including performance and flight enhancements, commuter and high-density passenger systems, corporate reconfigurations, cargo conversions, and a full range of highly specialized military and special mission air operations and support. In addition to innovative performance enhancements, CAT offers a range of services that include consultation, pre-purchase inspection, engineering, and program management. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

Iverson joined CAT in June 2010, as a Senior Program Manager and Chief Pilot. Prior to coming on board with CAT, Iverson served in the United States Navy with 14 years of experience in airborne ISR and Special Mission Systems programs, management, and employment. Iverson’s flying resume includes the T-34, T-44, P-3C, and C-130. He is a graduate of Oregon State University with a Bachelor of Science in Political Science.

About Commuter Air Technology
CAT focuses on delivery of certified aircraft and aircraft modifications, including performance and flight enhancements, commuter and high-density passenger systems, corporate reconfigurations, cargo conversions, and a full range of highly specialized military and special mission air operations and support. In addition to innovative performance enhancements, CAT offers a range of services that include consultation, pre-purchase inspection, engineering, and program management. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

“The organic growth of our businesses as well as increased activity in acquisitions for the Composites Group has evolved to the point where a group CFO is required,” commented Al Haase, President of the Group. “Troy’s extensive background and mix of experience in aerospace and defense, manufacturing, and acquisitions is a perfect fit for our organization. We are pleased to welcome him to the AGC team.”

Mr. DePuma has over 25 years of experience in aerospace and defense and manufacturing. Mr. DePuma spent close to 20 years with the Textron companies, increasing his responsibilities in accounting and finance throughout his tenure. He was most recently vice president of finance for customer support and service at Textron’s, Bell Helicopter. Mr. DePuma’s experience also includes merger and acquisition due diligence and acquisition integration support.

Mr. DePuma is a certified public accountant and a Six Sigma Green Belt. He earned a Bachelor of Business Administration in Accounting from the University of Texas at Arlington.

About the AGC Composites Group
The AGC Composites Group leverages the strengths of its design, engineering, development, and manufacturing capabilities from the separate companies working as part of one group. The Group provides innovative design services, quick turnaround tooling, as well as the ability to efficiently manufacture both low volume as well as high volume production at competitive rates.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups: Composites, Finance, Integrated Defense, and Services.

Oklahoma City, Okla. –  SinglePoint Aircraft Finance (SinglePoint), an AGC Aerospace & Defense company, recently completed a refinancing transaction on a 1977 Cessna ISP to commemorate the launch of its Aging Aircraft Finance program.

The age of the Cessna Citation proved to be a stumbling block when the Florida client approached its bank for financing.

“Many banks are reluctant to finance the purchase or even specific life-extending modifications of an older aircraft,” said Tim Wilson, President of SinglePoint.  “Despite seeing a thaw in what has been tough lending market, aircraft less than 10 years old receive precedent over older aircraft.  Although these older assets are perceived by banks as being higher risk credits, SinglePoint recognizes these planes have long useful lives and when properly maintained represent great value to their owners.”

With extensive experience in aircraft maintenance and modifications as well as complex financing expertise, SinglePoint’s team is in a unique position to both value older aircraft and provide workable funding solutions.

“Our expertise in aging aircraft and comfort with the useful life of these assets motivated SinglePoint to launch this product,” added Wilson.  “The loan we extended allowed the borrower to perform some deferred aircraft maintenance and return to flying.”

Even as the economy improves SinglePoint continues to field a steady flow of inquiries from both individuals and corporations seeking alternative financing strategies to traditional lending channels.

About SinglePoint Aircraft Finance
SinglePoint provides private financial services to both private and government aircraft customers with requirements that present challenges to the conventional financial services marketplace.  The company handles transactions from $1-$4 million for both fixed and rotor wing aircraft purchases and modifications.  SinglePoint operates as part of the AGC Aerospace & Defense Finance Group.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

The benefits of Veracity’s system were recently proven during a lifetime extension inspection of a power generation gas turbine wheel.  Veracity’s VTS 2400 was used to identify and quantify inclusions in the bore of the Stage 2 Turbine Wheel.  This indication was previously undetected or dismissed as non-relevant during the original manufacturer’s acceptance inspection.  After detecting the discrepancy, the engineering authority was able to model the indication and determine the operational limits of the component. 

“We were able to save our customer over $200,000 in component replacement costs as well as the need to replace the entire turbine,” stated Kevin McKinley, Veracity’s Vice President of Operations.  “And, the data provided the customer with an accurate analysis to mitigate the risk for continued operation.”

Veracity’s system allows technicians to identify indications through imaging capabilities and to quantify those indications with direct measurements as well as through conventional amplitude sizing.  With these added capabilities, companies can identify and size indications that were previously undetectable.  Veracity’s system increases the probability of detection while minimizing false calls.

“The multiple data capture methods, coupled with the fidelity of the medical grade imaging, allows operators to provide engineers with enhanced information for determining the operational capabilities of the components,” McKinley commented.

About Veracity Technology Solutions
Veracity develops customized nondestructive inspection solutions for customers in the aerospace and defense and the power generation industries.  Using proven, proprietary technology to check for potential defects, Veracity’s methodology helps customers extend the service life of high-value assets, lower inspection costs, and eliminate hazardous processes.  Veracity operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, supplies technologies, systems, and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“It’s gratifying to be recognized for the exceptional level of service we provide and our commitment to our customers,” commented Jeff Gehring, President of APSE.  “Whether we’re managing a customer’s entire supply chain or just one hard to find part our focus is to ensure that our customers have the items they need when they need them so they can return their aircraft to service as quickly as possible.”

APSE, a tribally-owned, small disadvantaged business, provides supply chain management support including point-of-use (POU), kitting, and vendor managed inventory (VMI) services for several commercial and military aircraft platforms.  Maintaining promised inventory levels, ensuring on-time delivery, and providing competitive pricing are part of APSE’s value proposition.

"Northrop Grumman has always been rigorous in its selection of suppliers, so your recognition is a testimony to your hard work, know-how and dedication to being a valued part of the Northrop Grumman product team," said Lisa Kohl, sector vice president, Global Supply Chain, Northrop Grumman Aerospace Systems.

Northrop Grumman awards this honor annually to companies that demonstrate excellence in product quality, on-time delivery, customer satisfaction, and robust lean processes.  ASPE was one of 56 award recipients selected from more than 1,500 suppliers.  The company also received the Platinum Source award in 2010. 

APSE has received preferred supplier awards and recognition from several other Tier 1 and 2 manufacturers.

About APSE
APSE is a distributor and third party logistics company specializing in on-site supply chain integration, inventory bin management, and full service kitting.  The company provides hard to find parts (primarily hardware and fasteners) for both military and commercial aircraft. The company also provides services such as configuration management, distribution, and manufacture of component and sub assembly kits.  APSE operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity firm Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Through the Seeds of Greatness award, Acorn honors Oklahoma based aerospace and defense companies, government agencies, teams, or individuals creating a significant impact toward cost savings or revenue enhancements through innovation.

“This year we recognize the Oklahoma Department of Commerce for its outstanding work associated with the 21^st Century Quality Jobs incentive program,” commented Jeff Davis, Partner at Acorn.  “Innovation came through collaboration with the Oklahoma City Chamber of Commerce as the Department of Commerce worked tirelessly along side others to develop a strong program to recruit businesses considering Oklahoma as a place to open or expand.  That success is showcased by Boeing’s decision to relocate hundreds of engineering jobs to Oklahoma.”

“We selected CASS Polymers, Inc. as this year’s private sector award recipient,” stated Rick Nagel, Partner at Acorn, “to recognize its innovative work in improving their proprietary formulations for composite and metal-bonded structures. We also recognize their continued growth and commitment to remaining headquartered in Oklahoma as they have attracted capital, supporting their growth both organically and through acquisitions.”

CASS Polymers develops and markets of a diverse line of more than 300 specialty adhesives, coatings, prototyping composites and tooling compounds. 

Partners Jeff Davis and Rick Nagel, along with Oklahoma Governor Mary Fallin, presented the award at the 2011 Oklahoma Aerospace Summit and Expo.

About Acorn Growth Companies
Acorn Growth Companies is a private equity firm focused exclusively on aerospace and defense opportunities.  Today, the firm has over $100 million under management with operations worldwide – all under its primary banner, AGC Aerospace & Defense.

AGC Aerospace & Defense supplies technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

Tulsa, Okla. – Veracity Technology Solutions, an AGC Aerospace & Defense company, has successfully completed testing and a demonstration of its proprietary, remotely operated Ultrasonic Tomographic Imaging System, a non-destructive inspection (NDI) capability.

Veracity’s system allows technicians to detect anomalies on both production and in-service composite and metal components from a remote location.  Using this method, companies can reduce costs and assembly time by eliminating the need to ship components to an independent inspection facility.  Customers can reduce downtime by applying this system in the field and assessing the condition and potential repairs required before an item, such as an aircraft, arrives at a maintenance facility.  Additionally, implementing this system can compress development cycle time.

“As engineering teams incorporate design and manufacturing changes in various components, they need to be able to immediately assess the integrity of the component before moving forward,” stated Gary Hensley, President of Veracity.  “No longer is NDI a bottleneck.  We’re able to offer customers a solution which speeds the time to production.

With Veracity’s proprietary process, an NDI technician can direct both the motion controlled transducer and ultrasonic system using a standard Internet connection.  The offsite technician can capture the data and then immediately analyze the structural integrity of the inspected pieces and provide all necessary documents indicating a completed inspection. 

“Through the demonstration we proved that ultrasonic inspections can be accomplished remotely,” commented Kevin McKinley, Vice President at Veracity. “Our Level III Engineer controlled the automatic scanner, ultrasonic, and three-dimensional reconstruction software from Florida, while the system was set up in a facility in Oklahoma.” 

The Veracity remote automated inspection system can be customized based on each customer’s unique requirements.  The system can be installed anywhere in the world and the data can be viewed by multiple users at different locations during the inspections process.

About Veracity Technology Solutions
Veracity develops customized non-destructive inspection solutions for customers in the aerospace and defense and the power generation industries.  Using proven, proprietary technology to check for potential defects, Veracity’s methodology helps customers extend the service life of high-value assets, lower inspection costs, and eliminate hazardous processes.  Veracity operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, supplies technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“Joe is a great addition to the APSE team and his extensive industry experience will be an asset to our company,” commented Jeff Gehring, President of APSE. “He will help us as we seek to grow and take on new customers, platforms and opportunities while maintaining a high level of support for our existing customers.” 

Haroldsen has more than ten years of experience in sales, supply chain, distribution and third party logistics for the aerospace industry. He joins APSE from Wencor where he was a Senior Product Manager and had extensive involvement with the hardware and fastener market along with PMA development and OEM distribution.  Haroldsen has experience handling requirements for multimillion-dollar contracts and product lines and will provide depth of knowledge and support as APSE enhances its supply chain.
 
Haroldsen will have responsibility for APSE’s business development efforts and will be a key member of the leadership team.

Haroldsen earned a Bachelor of Arts from Brigham Young University.

About APSE
APSE is a distributor and third party logistics company specializing in on-site supply chain integration, inventory bin management, and full service kitting.  The company provides hard to find parts (primarily hardware and fasteners) for both military and commercial aircraft. The company provides other value added services such as configuration management, distribution, and manufacture of component and sub assembly kits.  APSE operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

The Seeds of Greatness Award, which Acorn introduced in 2007, recognizes Oklahoma aerospace and defense companies, government agencies, teams, or individuals that have created cost savings or revenue enhancements through innovation.  One public sector and one private sector awardee will be selected. Partners from Acorn Growth Companies and Oklahoma Governor Mary Fallin will present the award during the Oklahoma Aerospace Summit and Expo in early June.

“We invite those who have taken note of an Oklahoma based employee or entity that is using innovative methods to improve business results to submit nominations,” stated Jeff Davis partner at Acorn.  “The entrepreneurial spirit extends throughout the small and large businesses in the aerospace and defense sector in Oklahoma.  Employees are being impacted by budget cutbacks and program evolutions – we need to continue to recognize those who are improving business processes and capabilities.”

“I’m eager to review this year’s submissions, given the quality of nominees we had last year,” commented Rick Nagel, partner at Acorn.  “Both the private and public sectors have become more innovative as they work to increase their cost savings and build revenue.”

Nomination forms are accessible on the company’s website at www.acorngrowthcompanies.com.    2010 winners include: Oklahoma State University Multispectral Laboratories (UML) and Zivko Aeronautics, Inc.  Previous recipients are:  Pro-Fab, Inc., The Oklahoma Aerospace Institute, The Tulsa Technology Center, GAMI, Inc., First Wave Aviation and the Greater Oklahoma City Commerce and Oklahoma County.

About Acorn Growth Companies
Acorn Growth Companies, a private equity firm focused exclusively on aerospace and defense opportunities, oversees management and control of AGC Aerospace & Defense. The firm has over $100 million under management and companies across the United States, operating worldwide under its primary banner, AGC Aerospace & Defense.

AGC Aerospace & Defense supplies technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

The training curriculum includes field simulations, material review, and class discussions to train operators of intelligence, surveillance, and reconnaissance (ISR) sensor equipment on the MC-12 (Liberty) aircraft.  Students of the CAT ISR training school have completed over 400 sorties and 1,000 flight hours.  CAT, with teammates Valair Aviation, also an AGC Aerospace & Defense company, and Grey Aviation, took the program from contract award to a fully operational course in a few short weeks. 

“We developed a comprehensive program based on the technical capabilities of the equipment, the operation tactics, and the scenarios these students are likely to encounter when operationally deployed,” stated Darryl Wilkerson, President of CAT and the AGC Integrated Defense Group. “Our focus is on providing these airmen and those they support in the field with the knowledge and expertise they need and can use.”

“We’ve been there, in theater, in a range of situations and under various conditions,” said Gary Ambrose, Senior Vice President of CAT.  “We pull from our experiences to make this training the best representation of what these operators will encounter when they’re in the field.”  CAT’s instructors are all combat veterans with direct ISR mission experience.

About Commuter Air Technology (CAT)
CAT modifies and certifies aircraft to provide increased performance and special mission capabilities for commercial, military, and general aviation customers.  CAT also provides a full spectrum of airborne ISR products and services including:  training, integration, operational testing and evaluation, combat mission support, aircraft, and exercise support. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the unifying brand of private equity group Acorn Growth Companies, is a global supplier of technologies, systems, and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“As a maintenance, repair and overhaul facility and one of two factory certified repair stations for 1900’s, refurbishing this aircraft is part of our core business,” commented Jeff Snyder, Valair President. “We have noticed a sharp uptick in recent 1900 cargo and high density conversions, validating its position as a fuel efficient, versatile utility aircraft.”

A 19-passenger, pressurized twin-engine turboprop airplane, the Beechcraft 1900 was designed and has been used primarily as a regional airliner.  Because of its ability to fly in all weather conditions from airports with relatively short runways, the 1900 is also used as a freight aircraft, corporate transport, and by the United States military and other governments.

“Each aircraft that comes into our shop has a unique level of maintenance or repair that will be required based on its intended mission,” added Snyder.  “Valair has extensive experience repairing and modifying each model for optimal performance in its role.”

This is the fifth 1900 that Valair has modified or refurbished in the past year.  Prior modifications included complete refurbishments, engine upgrades, main spar replacement, avionics upgrades, customized interiors and paint.

About Valair Aviation
Valair, an FAA Part 145 repair station, functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. The company operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

“The goal of the testing is to ensure structural integrity,” said Gary Hensley, President of Veracity. “Various non-destructive inspection methods, such as eddy current (also referred to as electromagnetic testing) or Ultrasonic (UT) can provide the necessary information – the key is in analyzing the findings and also in recording the details for comparison in future inspections.”

Using field portable medical-grade ultrasonic technology or advanced eddy current methods, Veracity is able to detect and record the location of anomalies in exceptionally thin materials such as aircraft skin.  The company has also been successful in identifying indications (potential defects which could lead to cracking) on aircraft test panels.

“In a recent project, we identified corrosion on the backside of aircraft panels where the rivets joined overlapping skin,” stated Kevin McKinley, Vice President of Development and Project Management.  “We developed a three dimensional profile that enabled us to analyze and record the size and extent of the corrosion.”  

Veracity’s proprietary software assigns a digital reference point that can be used on future inspections to track the evolution of anomalies that are caused by a variety of factors including corrosion and metal fatigue.

Last year, Veracity won the Aviation Week MRO of the Year Award for delivering an in-situ inspection system that provides UT information of the internal structure of an aircraft wing attachment fitting.

ABOUT VERACITY TECHNOLOGY SOLUTIONS
Veracity is a leader in developing customized solutions to provide faster, better, and more cost effective non-destructive inspection approaches for customers in both the aerospace defense and the power generator industries.  Veracity operates as part of the Services group of AGC Aerospace & Defense.

ABOUT AGC AEROSPACE & DEFENSE
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Veracity is an innovative market leader in providing nondestructive inspection, test and evaluation solutions for the power generation and the aerospace and defense industries. 

“We recognized the need to increase the size of our space to accommodate a new state of the art testing and validation laboratory to inspect metal and composite parts for anomalies,” stated Gary Hensley, President of Veracity. “We also have more room to handle the growth we’re experiencing.”

“By co-locating our research and development facility with our testing and validation lab, we gain flexibility as we both enhance our capabilities and proof new techniques prior to deploying to the field,” commented Kevin McKinley, Vice President of Programs at Veracity. “Our new facility also enables us to provide better and immediate support to our customers in the Southeast region.”

Veracity is at the forefront of bringing advanced nondestructive inspection solutions to the market – using eddy current and medical grade technology in place of the traditional methods.  Through its proven, proprietary technology, Veracity can identify defects or potential problems early on in applications such as power generation turbines, aircraft wings, rotor blades and landing gear.  The earlier the discrepancies are identified, the less costly the repairs and the shorter the downtime.

About Veracity Technology Solutions
Veracity is a leader in developing customized solutions to provide faster, better and more cost effective non-destructive inspection approaches for its customers in the aerospace and defense and power generation industries.  Veracity operates within the Services Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering and integration services to manufacturing, logistics and aircraft modifications.

APSE provides hardware and fasteners, kitting, bin management, and supply chain services to commercial and military original equipment manufacturers (OEM).

“APSE provides exceptional service to its customers and I’m honored to have the opportunity to support the company in this new capacity,” stated Jeff Gehring, APSE president.  “Given the requirements of both the commercial and military aerospace industry, accurate and on-time performance is critical. We have a number of opportunities for growth and I look forward to working with our team and our partners to maintain a high level of execution and performance to our customers.

Gehring joined APSE in 2009 as the vice president of business development.  Prior to joining APSE, he was employed by a major parts distributor where he served as the director of marketing and business development.  Gehring earned a Bachelor of Arts in Communications from Brigham Young University and his MBA from the Thunderbird School of Global Management.

ABOUT APSE
APSE is a leading third party logistics company specializing in on-site supply chain integration, inventory bin management, and full service kitting.  The company provides other value added services such as configuration management, distribution, and manufacture of component and sub assembly kits.  APSE procures hard to find parts for both military and commercial aircraft.  Customers benefit from APSE’s small disadvantaged business status.  The company operates within the Services Group of AGC Aerospace & Defense.

ABOUT AGC AEROSPACE & DEFENSE
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“We’re pleased to welcome Kirkpatrick Electronics,” commented Rick Nagel, partner at Acorn Growth Companies. “This acquisition marks the start of a busy year for us as we work to close a number of acquisition opportunities augmenting our aerospace MRO, Integrated Defense, and Composites portfolios.”

Specific details regarding the transaction were not disclosed. The assets of Kirkpatrick Electronics were purchased by Valair Aviation and the purchased business will be marketed as Valair – Kirkpatrick Avionics going forward.

“This is a positive move for Kirkpatrick,” said Dennis Kirkpatrick, owner and president of the company. “I wanted to ensure the new owners would hold the same focus on customer satisfaction and quality management as I have. After evaluating a number of offers, I felt that Acorn Growth Companies provided the best opportunities and synergies for us when combined with Valair.”

Valair Aviation, the maintenance, repair and overhaul operating entity of Acorn supports business, general aviation, and military customers. The addition of Kirkpatrick increases Valair’s footprint, provides immediate capacity, and leverages expertise in several electronics and avionics growth sectors.

“Kirkpatrick helps us expand our avionics base, which is critical as the trend of upgrading to glass cockpits and advanced radars and sensors continues,” stated Jeff Snyder, Valair president. “The company has a forty-year history of providing very complex electronic integration services that will dovetail perfectly with our existing business lines.”

Kirkpatrick Electronics has been a leader in providing avionics component test, evaluation, and repair, cockpit upgrades, in-flight entertainment systems, and antenna, sensor, and radar installation services. More recently, the company has supported a number of intelligence, surveillance, and reconnaissance integrations, including the installation of satellite communication and data transmission systems.

“There are fewer and fewer experienced avionics technicians left to service an exploding array of requirements,” remarked Snyder. “As these systems develop in complexity and become more commonplace in the market, expertise will be a key differentiator for MRO’s like Valair.”

ABOUT VALAIR – KIRKPATRICK AVIONICS
Kirkpatrick Avionics, a division of Valair Aviation, is an FAA-approved repair station located at the Max Westheimer Field in Norman, Oklahoma. The company provides avionics equipment and installation services for a variety of aircraft types from single engine to large corporate jets.

ABOUT VALAIR AVIATION
Valair, an FAA Part 145 repair station, functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. The company operates within the Integrated Defense Group of AGC Aerospace & Defense.

ABOUT AGC AEROSPACE & DEFENSE
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“This quick closing validates our view that the market is seeking a more efficient approach to aircraft financial transactions. We anticipate a robust year of deal flow for SinglePoint as we apply our unconventional and proven approach to solving an unmet need,” stated Tim Wilson, President of SinglePoint, a portfolio company of AGC Aerospace & Defense.  “This first commercial transaction has highlighted the synergies we hoped to achieve with AGC’s MRO focused operating company, Valair Aviation, allowing us to move quickly to complete the financing.”

Valair Aviation, also an AGC Aerospace & Defense company, is a turnkey provider of heavy maintenance, restoration, modification, avionics, interior completion, and paint services.

“Knowing the aircraft inside and out from a maintenance perspective gives us a unique ability to define potential risk,” remarked Rick Nagel, a partner at Acorn Growth Companies, the private equity backbone of AGC Aerospace & Defense.  “The combination of access to capital, operations-centric risk assessment, and ability to mitigate that risk with in-house maintenance capability will define our competitive advantage in this space as we unite the unique attributes of SinglePoint and Valair.”

About SinglePoint Aircraft Finance
SinglePoint Aircraft Finance (SinglePoint) was formed to meet a very specific niche within the private and government aircraft marketplace – that of providing private aircraft financial services to customers with requirements that may present challenges to the conventional financial services marketplace.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

During the aircraft inspections, Valair engineers discovered significant corrosion on the forward and rear wing spar lower caps, which required the lower spar caps to be replaced.  Previously, damage of this magnitude resulted in a scrapped aircraft; however, Valair was able to repair the damage and replace both lower caps.  Along with the wing spar cap replacements, Valair completed the contract from ACE to evaluate and repair fuselage belly corrosion and the aircraft was returned to service in Alaska. 

Valair was also recently awarded a contract from Las Vegas based Maverick Airlines to completely refurbish a Beech 1900D.  This is Valair’s fourth major refurbishment in 2010. Maverick, a private tour company, operates upgraded Beech 1900’s.  The contract includes integration of a new avionics suite, design and creation of a custom cabin interior with entertainment system upgrades, and an exterior paint scheme unique to Maverick.

ABOUT VALAIR AVIATION
Valair, an FAA Part 145 repair station, functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. Valair operates within the Integrated Defense Group of AGC Aerospace & Defense.

AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

During “outage” season, or the months of low power demand, Veracity works with power generation companies to perform non-destructive inspection on GE Frame 5 and 7 engines, and also steam turbines using borescope, advanced impedance plane analysis eddy current, linear array ultrasonic, and boresonic services for life time extension.  With its proprietary systems and medical grade technology, Veracity provides real time data to customers regarding the “health” of engine and turbine components such as stators, compressor blades and disks. 

“The fidelity of the data our system provides is key,” commented Kevin McKinley, Veracity Vice President of Development.  “With the data collected, an immediate analysis of problem areas can be conducted to detect microstructure changes in materials and mitigate the risk of catastrophic failure.  The earlier these changes are detected, the faster and more economical the repair,” he added.

The aerospace industry uses Veracity’s technology to inspect aircraft components such as wing spars, landing gear, nose gear pistons, and composite structures.

About Veracity Technology Solutions
Veracity is a leader in developing customized solutions to provide faster, better, and more cost effective non-destructive inspection approaches for its customers in the aerospace and defense and power generator industries.  Veracity operates within the Services Group of AGC Aerospace & Defense. 

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

Hicks comes to APSE from the HD Supply Company, one of the largest wholesale supply companies in North America.  While at HD Supply, Hicks was a key client relationship manager in the Utilities Division with the primary role in development, implementation and management of customer contracts, with responsibility for financial analysis, terms and conditions, sales and operations.  Hicks also acted as the project manager overseeing sourcing activities, process mapping, distribution, and inventory management. 

Prior to HD Supply, Hicks spent time with United States Gypsum Company, advancing to Senior Financial Analyst and Plant Controller.  Hicks earned a Bachelor of Science in Finance from Oklahoma State University.

About Aerospace Products S.E. (APSE)
APSE is a leading third party logistics (3PL) company specializing in on-site supply chain integration, inventory bin management, and full service kitting.  The company provides other value added services such as configuration management, procurement, distribution, and manufacture of component and sub assembly kits.  APSE procures hard to find parts for both military and commercial aircraft.  APSE operates within the Services Group of AGC Aerospace & Defense.

AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

CAT opened the ISR Training Center earlier this year in support of special mission activities to teach airborne ISR Initial Qualification Training.  With the majority of the training center’s management and support staff coming from Special Operations Forces, the focus is on teaching airborne sensor operators how to maximize full motion video, SATCOM communication equipment and networks, and other situational awareness tools to provide critical operational information directly to troops on the ground.

“When we read about SSG Frith, we knew immediately that the training center should be dedicated to his memory,” stated Gary Ambrose, CAT Vice President of Operations.  “He served in a special operations aviation unit, and he had an Oklahoma connection.  He also served in the Philippines and CAT has provided support there.”

“We are humbled, honored, and grateful to be permitted to dedicate our training center in his name,” continued Wilkerson.  “SSG Frith gave selflessly of himself and his memory serves to inspire and remind us of the courage, commitment, and sacrifice that the men and women of our armed forces have made and continue to make.”

Frith was assigned to the 160^th Special Operations Aviation Regiment, the Night Stalkers.  He had deployed numerous times in support of Operations Desert Shield/Desert Storm, Operation Gothic Serpent, and Enduring Freedom.  Frith earned numerous awards and decorations during his military service.

About Commuter Air Technology
CAT focuses on delivery of certified aircraft and aircraft modifications, including high performance and flight characteristics enhancements, commuter and high-density passenger systems, military and special missions systems and support, corporate reconfigurations, and cargo conversions.  CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

About AGC Aerospace & Defense
AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a global supplier of technologies, systems, and services that support key commercial and military programs.  Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.  AGC Aerospace & Defense is organized into four operating groups:  Composites, Finance, Integrated Defense, and Services.

Hayden, Idaho – Unitech Composites and Structures, Inc. (Unitech), an AGC Aerospace & Defense Company, has been awarded a contract to produce lightweight, insulated ducting components for the V-22 Osprey Environmental Control System (ECS).  The company recently completed tooling of the production line and will commence full production next quarter.

“Unitech is honored to work with Boeing on this new, thermally insulated ducting system for the V-22 program,” stated Alan Haase, President of Unitech and the AGC Composites Group.  “This system will provide an improved operating environment for our soldiers.  And, providing a high quality product that helps our military is extremely important to us.”

Unitech, using advanced composite materials and novel integrated insulation techniques, will deliver a thermally sensitive ducting product that is also lightweight.  The new ECS design is backward compatible, so it can be used with older, currently fielded support systems.  This technology is also available and being evaluated for other platforms.

The V-22, the first tiltrotor aircraft to be fielded in the military, is a hybrid aircraft, combining selected capabilities of an airplane and a helicopter. The airframe incorporates state of the art materials and structural designs which increase reliability and reduce weight.

ABOUT UNITECH COMPOSITES AND STRUCTURES
Unitech designs and manufactures composite structures in the commercial and military aerospace industries. The company maintains continued commitment to innovation, quality, and flexibility towards the requirements of individual airlines and OEMs. Unitech operates within the Composites Group of AGC Aerospace & Defense.

ABOUT AGC AEROSPACE & DEFENSE
AGC Aerospace & Defense, the operating portfolio of aerospace and defense private equity group, Acorn Growth Companies, is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“Valair is a well performing company with a solid customer base,” stated Snyder,  “I look forward to expanding its existing base to handle larger private, military and rotor wing aircraft.”

Snyder joins Valair with 30 years of experience in the aerospace industry supporting both commercial and military customers.  Snyder recently served as the Senior Vice President, Aviation at Technical Service Group, Inc., which was acquired by AAR.  Prior to that assignment, he was the General Manager at MD Helicopters, Inc.  His experience includes work at Raytheon Aerospace as President of the Aftermarket Division. 

Snyder started his aviation career with an assignment to Oklahoma City’s Atlantic Aviation supporting the transition of the Aero Commander to Westwind.  He now returns to Oklahoma to head Valair, a spin-out of the group which he supported on that first project.

An aerospace veteran, Snyder has had multiple successes in managing organizations focused on both fixed and rotor wing aircraft MRO and supply chain management, as well as government contractor logistics support.

ABOUT VALAIR AVIATION
Valair functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. The company operates within the Integrated Defense group of AGC Aerospace & Defense.

AGC Aerospace & Defense, the operating portfolio of private equity group Acorn Growth Companies, is a leader in supplying technologies, systems and services that support key commercial and military programs.

“We are pleased to be partnered with Lee Beaumont in this effort, and to have finalized our first deal with GE Aviation,” commented Rick Nagel, partner at AGC Aerospace & Defense. “We’ve built a solid and well capitalized foundation for our engine leasing strategy, allowing us to focus more resources in this resurging sector.”

In conjunction with portfolio company Aircraft Logistics Group (ALG), AGC Aerospace & Defense provides industry and government customers alternative leasing and financing solutions for aircraft, systems, engines, and integrated special mission aircraft deployed around the globe. ALG has been in operation since 2007.

Beaumont, an AGC Aerospace & Defense advisory board member since 2006, will lead the consolidated leasing effort.

“The time is right for a robust program like this to be brought to the market,” remarked Beaumont. “I am delighted to be working with AGC Aerospace & Defense given their commitment to the sectors I’ve served for so long.”

Beaumont most recently served as Chief Operating Officer at Willis Lease Finance Corporation (WLFC), one of the largest independent lessors of aircraft turbine engines worldwide. He also served as President of U.S. Operations at Standard Aero, one of the largest independent engine maintenance, repair, and overhaul providers in the world.

ABOUT AIRCRAFT LOGISTICS GROUP
Aircraft Logistics Group (ALG) provides both aircraft and engine leasing solutions to industry and government customers worldwide. ALG operates within the Finance Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Commuter Air Technology (CAT), a company specializing in intelligence, surveillance and reconnaissance (ISR) modifications, training, and special operations support, had been awarded a commercial contract to install a CAT developed ISR pod on the B200 aircraft by GA-ASI.  Working in concert with Valair Aviation, also an AGC company, the team was able to complete delivery ahead of schedule.  GA-ASI will use the modified aircraft as an ISR sensor test bed in its San Diego, Calif. location.

 “We focus on delivering a quality product on time, and if we can deliver ahead of schedule, we will,” commented Darryl Wilkerson, president of Commuter Air Technology and the AGC Integrated Defense Group.  “This early delivery is a perfect example of the synergy created within the AGC Integrated Defense Group.”

All CAT pods – used in both commercial and military applications to increase cargo space, maximize cabin room, or improve aircraft ISR capabilities through the installation and integration of radar, signals intelligence (SIGINT), or electro-optical infra-red (EO/IR) equipment – have received FAA Supplemental Type Certificates (STCs) for the King Air Beechcraft family of aircraft.

About Commuter Air Technology
CAT focuses on delivery of certified aircraft and aircraft modifications, including high-performance and flight characteristics enhancements, commuter and high-density passenger systems, military and special missions systems and support, corporate reconfigurations, and cargo conversions.  In addition to innovative performance enhancements, the company offers a range of services that include consultation, engineering, and program management.  CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems, and services that support key commercial and military programs.  Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Hayden, ID – Unitech Composites and Structures, Inc. (Unitech), an AGC Aerospace & Defense Company, has been awarded a development contract to reduce the weight and improve the performance of the Survival Egress Air (SEA) System. The company recently completed the Preliminary Design Review – ahead of schedule – and will complete the design later this year.

The SEA System, a safety measure for overwater missions, provides soldiers with a type of pressurized oxygen tank, known as a composite overwrapped pressure vessel or COPV.

“Unitech is honored to work on the design for the next generation SEA system for the Air Warrior Program Office. Reducing weight and increasing breathable air time of the COPV will result in a product which will improve performance of the system for our soldiers,” stated Alan Haase, President of Unitech and the AGC Composites Group. “Nothing is more important to us than delivering a quality product on time.”

The U.S. Army contract to design and deliver an improved COPV for the PEO Soldier Air Warrior product office was awarded to Unitech in early 2010. Unitech, using advanced composite materials design techniques, has been able to reduce the weight of the vessel an estimated 20 percent, while increasing breathable air by approximately 50 percent. This improvement in performance increases the time that the soldier has for surviving emergency situations. The new COPV design is backward compatible, so it can be used with older, currently fielded support systems.

ABOUT UNITECH COMPOSITES AND STRUCTURES (UNITECH)
Unitech is a world leader in designing and manufacturing composite structures in the commercial and military aerospace industries. The company maintains continued commitment to innovation, quality, and flexibility towards the requirements of individual airlines and OEMs. Unitech operates within the Composites Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“The U.S. Army selected Veracity to develop a more objective and trustworthy testing capability than they had,” said Gary Hensley, President of Veracity. “We were able to provide a proof of concept which can give the Army a viable solution for the inspection of rotor blades.”

The only utilized inspection method has been the “Tap Test” where a technician taps the surface of the rotor blade with a small hammer and then listens for any changes in the tapping sound which could indicate a possible defect. Even with the most skilled technician, this testing method is very subjective and can result in erroneous findings. The Veracity solution eliminates the subjectivity while maintaining the flexibility of being able to conduct the test either in the field or at a depot.

While Veracity has successfully tested rotor blades on the UH-60 and CH-47, this technology has a wide range of applications and has been successfully implemented in detecting and mapping delaminations in composite materials and corrosion in metal materials.     
 
ABOUT VERACITY TECHNOLOGY SOLUTIONS
Veracity is a leader in developing customized solutions to provide faster, better, and more cost effective non-destructive inspection approaches for customers in both the aerospace and defense and the power generator industries. Veracity won the 2010 Aviation Week MRO of the Year Award for Innovative Supplier/Services Provider. The company operates within the Services Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

The award recognizes Oklahoma aerospace and defense companies, government agencies, teams, or individuals making a significant impact to cost savings or revenue enhancements through innovation.  Oklahoma State University Multispectral Laboratories (UML) and Zivko Aeronautics, Inc. earned the public and private sector awards, respectively.

“The innovative vision and persistence in bringing ideas to practice demonstrated by both UML and Zivko earned them this award, ” commented Jeff Davis, partner at Acorn.  “It’s one thing to come up with creative ideas, it’s another to get them off the drawing board and into the ‘real world’.”

“Members of the Oklahoma aerospace and defense industry are innovative and productive,” stated Rick Nagel, partner at Acorn.  “The overall economic climate created financial challenges, but that only encouraged this industry’s visionaries to do more with less.”

UML’s has been developing advanced technology to respond to weapons of mass destruction, and on a business front, pulling together PrimeWin, a program to help federal contracting agencies connect with contractors.  Major General Al Goodbary, US Army (Retired), director of strategic business acquisition, accepted the award for UML.

Zivko continues to make strides in engineering aircraft instrument enclosure pods.  These pods, made of composite materials, are key additions to enhance the capabilities of both manned and unmanned aircraft without a substantial increase in weight to the aircraft.  Dan Bierly, accepted the award on behalf of Zivko.

About Acorn Growth Companies

Acorn Growth Companies, a private equity firm focused exclusively on aerospace and defense opportunities, oversees management and control of AGC Aerospace & Defense. Today, the firm has over $100 million under management and operating companies across the United States with operations worldwide-all under its primary banner, AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs.  Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

The program calls for aircraft, maintenance, pilots, trainers, and materials in support of training sensor operators prior to deployment. Valair, along with subcontractors Commuter Air Technology (CAT), also an AGC Aerospace & Defense company, and Grey Aviation, boasts years of airborne contract ISR and specialized ISR training experience.

“We value an opportunity to continue supporting our troops by providing them training that will mirror conditions in the field,” stated Darryl Wilkerson, President of Valair and the AGC Integrated Defense Group. “As seasoned warfighters, our trainers understand the elements critical to a successful mission – they’ve been through it.”

“This contract is a perfect fit given our current involvement with Project Liberty, and our continued focus on expanding the ISR reach of our Integrated Defense Group,” commented Rick Nagel, partner at AGC Aerospace & Defense. “As providers of special operations services, training, and field support, both Valair and CAT have the track record and experience to insure this program’s success.”

Valair, which is located at the Wiley Post airport in Oklahoma City, has a state-of-the-art training facility and experience with a variety of single and twin-engine aircraft and aircraft systems. Commuter Air Technology, also within the AGC Integrated Defense Group, is currently a subcontractor on the Project Liberty program.

ABOUT VALAIR AVIATION
Valair functions as a turnkey maintenance, repair, and overhaul company for private, public, and military aircraft. The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, Okla. The company operates within the Integrated Defense Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

ABOUT ACORN GROWTH COMPANIES
Acorn Growth Companies, a private equity firm focused exclusively on aerospace and defense opportunities, oversees management and control of AGC Aerospace & Defense. Today, the firm has over $100 million under management and operating companies across the United States with operations worldwide-all under its primary banner, AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

Veracity, a technology company focused on non-destructive evaluations, inspections, and testing worked with the US Air Force to develop a more cost effective, accurate, and safer way of testing the structural integrity of aircraft. The new solution requires two technicians about 1.5 hours to perform the test which is a significant reduction in the man hours required from the previous testing method.

“We are honored to be the recipient of this award. The Veracity team invests a great deal of themselves in problem solving for our customers,” said Gary Hensley, president of Veracity. “We were pleased that we provided a solution to our Air Force customer which helps get the aircraft back in service faster and is more cost effective.”

“I’m pleased that Veracity has been recognized with this prestigious global award from the industry’s leading publication,” commented Jeff Davis, partner at AGC Aerospace & Defense. “It is always a challenge to introduce innovative technology and solutions to the aerospace sector. We are all gratified that the hard-working team at Veracity has been recognized for their accomplishments and congratulate them for a job well done.”

ABOUT VERACITY TECHNOLOGY SOLUTIONS

Veracity is a leader in developing customized solutions to provide faster, better, and more cost effective non-destructive inspection approaches for its customers in the aerospace and defense and power generator industries. Veracity operates within the Services Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs. Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

The ISO 9001 certification is awarded to those companies which meet global requirements set out to assure a systematic quality management system.

“As an ISO certified company, we’ve demonstrated our commitment to quality management, to meeting requirements from both our customers and the regulators,” said Darryl Wilkerson, President of Valair.  “From top to bottom, Valair employees continually strive to improve our performance and to enhance our customer’s satisfaction with our service.”
 
By achieving ISO certification Valair Aviation has proven its maintenance, repair, and overhaul efficiencies and processes. The ISO certification allows Valair to pursue new business in marketplaces that require the ISO certification. The company’s firm commitment to quality and professionalism has solidified its superior reputation earned over the last 12 years.

About Valair Aviation
Valair, for over 50 years, has acted as a turnkey maintenance, repair, and overhaul company for the general aviation, commercial, and military aerospace markets.  The company specializes in heavy maintenance, avionics, interiors, and painting and also serves as an FBO at the Wiley Post Airport in Oklahoma City, OK.  Valair operates within the Integrated Defense Group of AGC Aerospace & Defense.
 
AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs.  Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

“We are pleased to continue supporting Marine Special Operations training events.  The ALMBOS contract improves continuity and oversight and allows our customers better access to us,” said Darryl Wilkerson, CAT’s President and CEO.  “We’re also pleased to be teamed with another exceptional company like Jacobs Technology."

“The Marine Special Operations Battalions act as a command and control element, conducting multi-faceted counter-terrorist operations.  Frequently, this includes the application or integration of airborne ISR and fires – an area where CAT has a great deal of experience and expertise,” added CAT’s Vice President of Operations, Gary Ambrose.

CAT also provides ground training for manned and unmanned systems conducting ISR, close air support, casualty and medical evacuations, and other Special Operations missions.

ABOUT COMMUTER AIR TECHNOLOGY (CAT)

CAT focuses on delivery of certified aircraft and aircraft modifications, including high performance and flight characteristics enhancements, commuter and high-density passenger systems, military and special missions systems and support, reconfigurations, and cargo conversions.  The company’s services include consultation, pre-purchase inspection, engineering, and program management. CAT operates within the Integrated Defense Group of AGC Aerospace & Defense.

“We are pleased to have achieved this milestone.  Becoming a certified AS9100 company demonstrates to our customers the commitment we have to repeatable quality delivery,” said Joe Johnson, President of ICI.

ICI has substantial heritage in successfully working on key programs with leading aerospace and defense companies as a small business supplier.  Being AS9100 certified will afford ICI greater access to Tier I and Tier II manufacturing companies in the immediate future.  The corporate quality policy, which is displayed throughout the facility, highlights ICI’s dedication:  “Integrated Composites, Inc. is committed to meeting customer requirements and increasing customer satisfaction through continual improvement of its products, services, and quality management system.”

Few companies are awarded AS9100 Certification without first being ISO certified; however, because of their strong pre-existing quality program, ICI felt confident moving directly to the AS9100 certification process. The accreditation assessment was performed in accordance with the quality system requirements for both AS9100 and ISO9001:2000, with a scope of registration that includes the “manufacture of composite structures for aerospace and military applications.”

ABOUT INTEGRATED COMPOSITES, INC.

ICI is a fully integrated design, development, and manufacturing company specializing in high-performance structures for aerospace, defense, marine, and industrial applications. The company’s 40,000 square foot facility is equipped with state-of-the-art design, tooling, and fabrication assets.  ICI operates within the Composites Group of AGC Aerospace & Defense.

“We are pleased to welcome Jeff to the APSE family,” commented Tracy Wimberly, President of APSE.  “Jeff’s tremendous experience in the aerospace and defense business will benefit our team.  He’s very familiar with both major OEMs and smaller manufacturers and MROs; and he knows both the sales and operating side of this business.”

As Vice President of Business Development, Gehring will be responsible for implementing strategies for growth and developing strategic alliances.  He will be based out of APSE’s office in Salt Lake City.

Gehring comes to APSE from Kitco Defense, where he served as the director of marketing and business development, overseeing strategic growth planning and leading key teams and initiatives with major OEMs.  Prior to Kitco, Gehring was employed at Wencor, a sister company to Kitco.  Gehring has a Bachelor of Arts in Communications from Brigham Young University and earned his MBA from the Thunderbird School of Global Management.

About APSE
APSE is a leading third party logistics company specializing in on-site supply chain integration, inventory bin management, and full service kitting.  The company provides other value added services such as configuration management, distribution, and manufacture of component and sub assembly kits.  APSE procures hard to find parts for both military and commercial aircraft.  APSE operates within the Services Group of AGC Aerospace & Defense.

“Being recognized as a Platinum Preferred Supplier is confirmation of our commitment to our customers – of providing quality products on schedule with outstanding customer service,” commented Tracy Wimberly, President of APSE.

APSE is an aerospace and defense company jointly owned by the Cherokee Nation Businesses and Acorn Growth Companies.  The Northrop Grumman Aerospace Systems honor is awarded to those suppliers who meet a stringent set of performance parameters including zero product defects, on time delivery, and a focus on customer satisfaction.

About APSE

APSE procures hard to find parts for both military and commercial aircraft.  In addition, APSE provides on-site supply chain integration, inventory bin management, and kitting services in addition to other value added services such as configuration management, distribution, and manufacture of component and sub assembly kits. APSE operates out of the Services Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs.  Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

For information: www.apseinc.com or www.agcaerospace.com or contact:

Jennyfer R. Guebert
AGC Aerospace & Defense
2701 Liberty Parkway, Suite 311

Midwest City, OK 73110

405-737-2676
 Ext. 2012

Tulsa, OK – November 17, 2009 – Veracity Technology Solutions (Veracity), an AGC Aerospace & Defense company, has delivered a new non-destructive inspection capability to the U.S. Air Force which reduces aircraft downtime and costs by speeding aft wing inspections.

The company delivered two customized inspection units to Tinker AFB in September that are specifically designed to locate cracks in the KC-135 aircraft.  An added benefit is that the new inspection replaces hazardous x-ray technology and will provide a much safer work environment.

“We are pleased that we had the opportunity to work with the government to improve this inspection process.  Technicians have qualified and validated the Veracity solution and based on the results, this technology will not only save a significant amount of money, but the aircraft will be back in service faster – and with the high operational tempo of our military, that’s critical,” said Gary Hensley, President of Veracity.

The routine aft wing inspections that aircraft are required to undergo are often time consuming and expensive – requiring six workers up to eight hours to conduct the initial evaluation. Using the Veracity solution, two technicians can evaluate the aircraft’s condition in about an hour.  Aircraft will be able to get to maintenance and repair sooner and the technicians can focus on other critical issues.

About Veracity Technology Solutions
Veracity is a leader in developing customized solutions to provide faster, better, and more cost effective non-destructive inspection approaches for its customers.  Veracity operates within the Services Group of AGC Aerospace & Defense.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs.  Operating in multiple locations across the globe, capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications.

For information see www.veracityts.com or www.agcaerospace.com or contact:

Acorn Growth Companies, a private equity firm focused exclusively on aerospace and defense opportunities, was evaluated not only on their success regarding capital raised and profitability, but also on other criteria such as innovation, growth potential, and economic impact.  The company has been successful in identifying promising new companies and partnerships and in developing an operating brand, AGC Aerospace & Defense.

Partners Jeff Davis, Rick Nagel, and Warren Thomas accepted the award.

“Our success has been built on a combination of factors: support from the community, trust of our customers and investors, and hard work from our employees. We are both humbled and honored to be recognized with the most prestigious award in Oklahoma’s investment community,” said Davis.

“By adhering to an excellent strategy for identifying, sourcing, and executing opportunities, along with implementing a strong operational strategy, we’ve been able to increase shareholder value and contribute to the Oklahoma’s economic development,” said Nagel.

The Venture of the Year award is widely recognized as the pinnacle of achievement within Oklahoma’s equity investment community.

Members of The Oklahoma Venture Forum (OVF), a non-profit organization that promotes economic growth in Oklahoma, selected Acorn Growth Companies from a number of nominees.

“We had a large number of high-quality applicants this year.  Acorn Growth Companies’ efforts to partner with other investors, especially in the aerospace and defense industry, elevated the company above its peers,” said Mike LaBrie, OVF Chairman and attorney with McAfee & Taft. “This award has gone to other notable recipients in the past including, the Chesapeake Energy Corporation, StairMaster, and IMTEC which was recently acquired by 3M.”

Acorn Growth Companies oversees management and control of AGC Aerospace & Defense. Today, the firm has over $100 million under management and operating companies.

AGC Aerospace & Defense is a leader in supplying technologies, systems and services that support key commercial and military programs.   Operating in multiple locations across the United States and abroad, AGC Aerospace & Defense finances, engineers, manufactures, procures, repairs, modifies and overhauls aircraft components, subassemblies and systems.

Acorn Growth Companies partner Jeff Davis commented, “Being selected as a finalist is an honor, and we are humbled to be considered for such a prestigious award. Since our inception, we’ve developed a strong portfolio of aerospace and defense companies.  It’s rewarding to be recognized for our efforts in building one of the premier aerospace and defense focused private equity firms.”

The Oklahoma Venture Forum (OVF), a non-profit organization that promotes Oklahoma’s economic growth, evaluated nominees based on a number of criteria including capital raised, profitability, and management quality.  Past award recipients include the Chesapeake Energy Corporation, StairMaster, and IMTEC (now part of 3M).  OVF will select the winner and present the award at a banquet following the Bricktown Capital Conference on 26 October.

Acorn Growth Companies has over $100 million under management and operating companies across the United States with operations worldwide – all under its primary banner, AGC Aerospace & Defense.

For information: www.acorngrowthcompanies.com or contact

Jennyfer R. Guebert
AGC Aerospace & Defense
2701 Liberty Parkway, Suite 311

Midwest City, OK 73110

405-737-2676
Ext. 2012

Veracity president, Gary Hensley, stated, “A number of people have worked hard to launch this business through the development and sale of exceptional technology. We are pleased to be recognized as a finalist for this prestigious award.”  Nominees were evaluated based on product innovations, revenue growth, and market potential, among other attributes.

Veracity has been successful in adapting medical grade technology to provide leading edge non-destructive inspection technology and services to the global aerospace and power generation community.

The Oklahoma Venture Forum, the award sponsor, will select the winner; the award will be announced and presented at a banquet following the biennial Bricktown Capital Conference on 26 October.

AGC Aerospace & Defense, a leader in supplying technologies, systems and services that support key commercial and military programs, operates in multiple locations across the United States and abroad.  AGC Aerospace & Defense finances, engineers, manufactures, procures, repairs, modifies and overhauls aircraft components, subassemblies and systems. 

Acorn Growth Companies is a private equity firm focused exclusively on aerospace and defense opportunities.  Today, the firm has over $100 million under management and operating companies across the United States with operations worldwide – all under its primary banner, AGC Aerospace & Defense.

For information: www.agcaerospace.com or contact

Jennyfer R. Guebert
AGC Aerospace & Defense
2701 Liberty Parkway, Suite 311

Midwest City, OK 73110

405-737-2676
 Ext. 2012

Acorn Growth Companies, a private equity firm focused exclusively on Aerospace and Defense opportunities, oversees management and control of AGC Aerospace and Defense. Today, the firm has over $100 million under management and operating companies across the United States with operations worldwide-all under its primary banner, AGC Aerospace & Defense.

“Like us, many of our customers have deep ties to this community,” said Darryl Wilkerson, president of AGC Integrated Defense Group and acting president of The ServiCenter. “Offering a way for them to give back through the course of normal business transactions is another way to keep our community strong.”

Charities will receive an equal one-fifth share of all donations collected each quarter. The ServiCenter will give a 100 percent match for all donations given to Community Partner Program members through the Loyalty Program.

About the ServiCenter

The ServiCenter, an AGC Aerospace & Defense portfolio company, serves the greater Oklahoma City aviation and aerospace market as fixed base operator and turnkey maintenance center at Wiley Post Airport. The ServiCenter employs more than 80 full and part-time employees and operates in 200,000 square feet of hangar and maintenance space.

“We are pleased that Tom has joined us at The ServiCenter,” said Jeff Morton, Executive Vice President and CFO for the AGC Integrated Defense Group. “His broad financial accounting experiences, particularly as it relates to Federal acquisition and accounting regulations within a variety of related industries, particularly aerospace and defense, will allow Tom to have a significant and immediate impact upon the The ServiCenter and its growing businesses.”

Before joining The ServiCenter, Meuneir had extensive finance, budgeting, cost accounting, pricing, and government compliance with L-3 Communications. Mr. Meuneir is a long-time resident of Oklahoma and earned his accounting degree from the University of Central Oklahoma.

The ServiCenter, Inc., based in Oklahoma City, is a full service aircraft maintenance, modification, inspection, avionics, paint, and interior facility specializing in light and medium turboprop and jet powered aircraft. AGC Aerospace & Defense is the operating brand for portfolio companies that are owned, controlled or managed by Acorn Growth Companies based in Oklahoma City, Oklahoma, operating companies across the United States with operations worldwide—all under its primary banner, AGC Aerospace & Defense.

Contact:
Colette Carlisle
405-361-6411