Evanston, Ill., May 14, 2026 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced an investment in Stratton Aviation, LLC (“Stratton” or the “Company”) in partnership with existing shareholders and the current management team. Terms of the transaction were not disclosed.
Founded in 2016, Stratton is a provider of quality-assured aftermarket airframe and engine components (used serviceable material or “USM”) and technical services to the commercial aviation industry. The Company’s in-house disassembly operations enable Stratton to acquire retiring aircraft and aircraft engines, harvest the components, and sell them back into the market for use on aircraft. Stratton serves a diversified customer base of airlines, lessors, MROs, OEMs, and distributors, and has built a reputation for excellent customer service. The Company operates from its headquarters in Winooski, Vt., its primary disassembly operations in Brunswick, Maine, and warehouses and sales offices in Arizona, Texas, England, and Turkey.
Ethan Fischer will continue leading Stratton as CEO. Mr. Fischer commented, “We are looking forward to partnering with IOP. The management team and I believe that IOP’s operations-focused approach will help us continue to execute on our strategic plan for growth including initiatives to expand our capabilities and enhance the value we bring to our customers.” Alberto Satine, an IOP Operating Principal with over 30 years of executive experience, will assume the role of Chairman at Stratton.
The Stratton partnership continues IOP’s long track record of backing entrepreneurial management teams to help businesses realize their potential. “Stratton has developed an excellent reputation in the commercial aviation industry, and we are proud to partner with Ethan and the team through the Company’s next chapter,” said Kyle Hood, Managing Director at IOP. “The management team has built a strong culture, and we are excited to provide the operational resources and investment to help them optimize the business and achieve continued success.”
The transaction’s debt financing was provided by PNC Bank, Yukon Partners, and NMP Capital. The financing includes a $150 million revolving credit facility to support Stratton’s acquisition of retiring aircraft and aircraft engines and other growth initiatives.
Stratton represents the eighth platform investment for IOP’s fourth fund, Industrial Opportunity Partners IV, L.P. Winston & Strawn LLP provided legal representation to IOP in the transaction. Kroll Securities, LLC acted as exclusive advisor to Stratton on the transaction.
About Stratton
Stratton is a technology-enabled, vertically integrated provider of quality-assured aftermarket airframe and engine components (used serviceable material or “USM”) and technical services to the global commercial aviation industry. The Company’s vertically integrated airframe disassembly and parts distribution operations enable industry-leading time to market and serve a highly diversified customer base of MROs, distributors, airlines, OEMs, and lessors from its headquarters in Winooski, Vt., primary disassembly operations in Brunswick, Maine, and additional warehouses and sales offices in Arizona, Texas, England, and Turkey. Learn more about Stratton Aviation at www.strattonaviation.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with over $1.5 billion of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $50 million and $500 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.