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Nine acquisitions in two years have made Aviation Sales Co. a megaplayer for aircraft maintenance

MIAMI--In 1994, Aviation Sales Co. was a privately owned, spare-parts-redistribution and inventory-management company generating $28 million a year in revenues (ATW 3/95).

Today, it is a publicly traded conglomerate consisting of the parent company and nine subsidiaries acquired over the past two years, estimated by First Call to have $448 million in sales for 1998 and $701 million next year. It also has reclassified itself from a parts-inventory-management company to the world's largest total-inventory-management and total-aircraft-management (TIM and TAM) company.

By mid-1996, when AVS went public, it was the world leader in market share for redistribution of airframe parts, with growth in excess of 30% per year, said Dale Baker, chairman, president and CEO.

Baker said redistributors have 13% of the world's $10 billion annual aircraft parts sales market, with AVS controlling 17%, or $223 million, of that $1.3 billion.

He added, however, that the company's goal "is to continue to grow that [market share] aggressively, to 40%." AVS spares include virtually the full range of Boeing, Airbus and McDonnell Douglas aircraft as well as the Lockheed L-1011 and Gulfstream aircraft, plus GE, Pratt & Whitney and Rolls-Royce engines.

To expand its parts-redistribution capabilities, AVS purchased the aircraft-bearing division of Dixie Aerospace Bearings Co., on Aug. 9,1996. It paid approximately $9 million for Dixie and as a result realized an additional $7 million in revenue between the purchase date and the end of the year. …

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