AvAir president Mike Bianco is now CEO via a management-led buyout.
As part of the buyout, Jason Cipriani, co-managing partner of Corrum Capital Management and Michael Robinson, senior advisor to Corrum Capital Management, will join AvAir's board of directors, working closely alongside Bianco and his team.
AvAir founder Robert Ellis will remain with the company in an advisory capacity and serve as a member of the company's board of directors, to support a successful rollout of the renewed strategic vision for the expanding enterprise.
AvAir said it plans to continue its organic growth by delivering award-winning service to current and expanding clients, but also grow through strategic acquisitions throughout the industry.
As business expands, AvAir plans to add new jobs worldwide.
Bianco's leadership, paired with Corrum Capital's institutional expertise in the transportation and aviation industries, will forge an aggressive, yet strategic path forward intended to fuel growth and expand AvAir's global reach.
AvAir operates a 24/7 facility stocking more than 26 million parts, serving 2,700 customers in 118 countries.
AvAir, founded in 2000, is active in the aviation aftermarket, offering airlines, OEMs, MROs and stockists a range of products and services.
AvAir said it is weeks away from moving into a new 180,000 square foot headquarters.