| Ticker: AVS | 6905 N.W. 25th Street | |
| Exchange: New York Stock Exchange | Miami, Florida 33122 | |
| Industry: Wholesale | (305) 592-4055 |
| Type of Shares: | Common Shares | Filing Date: | 4/15/96 | |
| U.S. Shares: | 3,250,000 | Offer Date: | 6/26/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $18.00 - $20.00 | |
| Primary Shares: | 3,250,000 | Offer Price: | $19.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.33 | |
| Offering Amount: | $61,750,000 | Selling: | $0.79 | |
| Expenses: | $600,000 | Reallowance: | $0.10 | |
| Shares Out After: | 7,750,000 |
| Manager | Tier | Phone |
| Smith Barney Inc. | Lead Manager | (718) 921-8473 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Sanders Morris Mundy Inc. | Co-manager | (713) 250-4211 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $113.80 | $32.90 | $28.45 | Assets: | $100.26 |
| Net Income: | $6.27 | $1.87 | $2.41 | Liabilities: | $83.13 |
| EPS: | $1.25 | $0.37 | $0.48 | Equity: | $17.13 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a recognized worldwide leader in the aircraft spare parts redistribution market and provides a wide range of value-added inventory management services to its customers. The company sells aircraft spare parts to major commercial passenger airlines, air cargo carriers, maintenance and repair facilities and other redistributors throughout the world. Parts sold by the company include rotable and expendable airframe and engine components for commercial airlines, including Boeing, McDonnell Douglas, Lockheed and Airbus aircraft and Pratt &Whitney;, General Electric and Rolls Royce jet engines. The inventory management services offered by the company include purchasing services, repair management, warehouse management, aircraft disassembly services and the consignment and leasing of aircraft spar parts. The company believes that the annual worldwide market for aircraft spare parts is approximately $10 billion, of which approximately $1.3 billion reflects sales of aircraft spare parts in the redistribution market, and that redistribution market will continue to grow in the future. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, to pay an obligation to one of the company's principal stockholders incurred in connection with the formation of the company and for working capital and other general corporate purposes. |
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