There may be a new aerospace company based in the Philadelphia area.
Taurus Aerospace Group says it's hired Larry Resnick as its chief executive officer. While the news release is datelined Philadelphia, there's nothing else to indicate that Taurus is based around here.
Until Nov. 2, 2007, Resnick had been senior vice president of operations at Triumph Group Inc., a publicly held company in Wayne, Pa. that supplies and overhauls aerospace systems and components. Resnick retired from Triumph after 10 years as an executive there.
In January, Resnick was named operating director of Arsenal Capital Partners, a New York private-equity firm with $800 million in committed equity capital. He was the co-lead of Arsenal's Aerospace & Defense Team.
In the Arsenal statement on his hiring, the company said Resnick led all mergers and acquisitions activity for Triumph Group since 2000.
Six months later, Resnick is heading Taurus, which is affiliated with Australia's Macquarie Group. Taurus owns Brek Manufacturing, a Los Angeles company that it bought Jan. 4. Brek's Web site lists Taurus as being based in New York.
Taurus also owns Aviation Technical Services, of Everett, Wash., which Macquarie bought from Goodrich Corp. in November for $55.3 million. That company employs about 1,200 workers.
The third company Taurus controls is Aircraft on Ground Inc., a Dallas provider of aircraft fuel tank repair and maintenance services.
None of those three business units has a footprint in the Philadelphia area, so Taurus' local ties may simply be with Resnick. Here's what he said in today's statement:
I look forward to working closely with the current Taurus companies and their employees to further grow the businesses. Part of that is to actively pursue additional opportunities to expand our offerings to aircraft OEM and fleet customers.
A phone call to the contact for Taurus was not returned by 4 p.m.