FOR IMMEDIATE RELEASE
Sigma Aerospace Group Acquires SunCoast Aero Engines and SunCoast Air Parts
[Sydney, 3 May 2024]
Sigma Aerospace Group (Sigma Group) has successfully acquired SunCoast Aero Engines and SunCoast Air Parts (Suncoast), a well-established Sunshine Coast-based company focused on engine overhaul and maintenance services. The acquisition brings together two high-performing companies which have developed deep expertise in providing essential services to commercial and general aviation. As part of the transaction Sigma Group has also purchased the business and assets of Suncoast Air Parts, a specialist provider of aviation engine parts to engine maintenance companies across Australia.
This strategic acquisition uniquely positions Sigma Group as a leading service provider to Australia’s aviation industry. Engineering and technical services are a critical component in keeping Australian businesses and passengers on the move.
To lead the integration of Suncoast and the growth of the wider Sigma Group, the board of directors have appointed David Garside as Chief Executive Officer. David brings a wealth of aviation sector experience to Sigma Group. David was previously CEO at Ansett Aviation Training and Executive Vice President at NetJets Europe, working alongside Champ Ventures and Berkshire Hathaway respectively. Sigma Group’s Managing Director and majority shareholder, Matt Wheatley, will step into an Executive Director role following his interim time as CEO.
“We are excited to welcome Suncoast into the Sigma Group,” said Matt Wheatley. “Suncoast has built a reputation for providing excellent service levels and turnaround time for its engine overhaul business. Additionally Suncoast has impressive capability including complex machining, fuel and hydraulic component overhaul, as well as Propellor repair and overhaul, an area Sigma Group is keen to capitalise on. The impressive component overhaul capability coupled with Sigma Group’s current MRO, Training and Workforce divisions continues to grow the Group’s strong position in the commercial MRO market. We look forward to working with the Suncoast team and continuing their successful growth journey.”
Matt added “In 2022, Sigma Group became part of the Sydney-based private equity firm Redwood North’s portfolio of companies. Their advice, investment and support is allowing us to invest in growth and ensure we are taking a leading position within the Aviation MRO sector well into the future. We will continue to capitalise on opportunities that are presented to us and expand the Sigma Group in line with our strategic plan.”
About Sigma Aerospace Group
Sigma Aerospace Group was founded in 2005.
Sigma Group is a leading provider of aircraft maintenance, repair, and overhaul (MRO) services and workforce solutions, with operations in Sydney, Brisbane, Gold Coast, Melbourne, Tamworth, and Adelaide. Sigma Group maintains a singular vision to solve the skilled labour shortage providing training and placement opportunities whilst growing the aircraft maintenance industry in Australia. Sigma Group services a wide range of aircraft types from small private planes through to passenger jets. For more information, visit https://sigmaaerospace.com.au/
About Suncoast Aero Engines
Suncoast was founded in 2001.
Suncoast is the market leader in the repair and overhaul of Continental and Lycoming piston engines. Suncoast maintains in-house capabilities in repairing and overhauling propellers, magnetos, turbos, fuel systems, and related components. Suncoast Air Parts supplies a full range of general aviation parts and products, priding itself in high levels of service and support.
For more information, visit https://www.suncoastaeroengines.com.au
About Redwood North
Redwood North is a private equity firm that specializes in partnering with ambitious companies to accelerate growth and unlock value. With a team of experienced professionals, Redwood North invests in businesses across various industries with EBITDA in the range of $3-8m supporting management teams to drive sustainable growth and long-term success.
For more information, visit https://www.redwoodnorth.com.au
Media Contacts:
David Garside
Chief Executive Officer, Sigma Group Phone: 0432 444 809
Email: dgarside@sigmaaerospace.com.au
