AN EXPERIENCED AND BALANCED PROFESSIONAL TEAM

As a team, the Principals and members of AeroEquity's Management Team have extensive experience in: equity investing; structuring and concluding mergers and acquisitions; structuring and consummating debt and equity financing; operating leveraged companies and divesting assets and companies. All of these professionals have years of experience in evaluating companies' strategic plans and have developed a network of external resources of industry and function-specific contacts. In addition to the listed key executive advisors, the Partners have deep industry contacts to draw upon to add value in specific operational areas, deal sourcing or management networking. Together, the Partners bring to the Fund over 115 years of senior management, operational and financial experience, and proven success in identifying, sourcing, closing, building and realizing investments with a private equity focus.

David H. Rowe
Education: Tulane University, BS
Co-Founding Partner


Mr. Rowe has 26 years of experience in the aerospace industry as a senior operating executive and private equity investor. Prior to founding AeroEquity in 1998 as a private equity investment vehicle, Mr. Rowe was an Executive Vice President at Gulfstream Financial Services Corp. (1993-1998) which had over $800 million in managed aerospace assets, and he held numerous management positions at GE Aerospace (1982-1987) and served at GE Capital (1987-1993) as a Vice President focused on aircraft remarketing, engine leasing, aircraft teardown and parts distribution. From 1982-1984, Mr. Rowe was enrolled in General Electric's Financial Management Program (FMP) where he served in a number of operating assignments for General Electric's Aerospace Division. After graduating from FMP in 1984, Mr. Rowe served two years in Hong Kong as a Business Analyst in GE's Asia operations. Mr. Rowe currently sits on the Board of the following aerospace companies: TurboCombuster Technology, Inc. ("TCT"), Kellstrom Industries and AeroSat Corp. He is a former director of Landmark Aviation (f/k/a Garrett/Piedmont/Hawthorne Aviation Services) and Grand Prairie Accessory Services, Inc. ("GPAS").

Thomas K. Churbuck
Education: Graduate of the John F. Kennedy Special Warfare Center and the Department of Defense Systems Management College
Managing Partner

Mr. Churbuck founded Power Systems Manufacturing, LLC in 1998 and was CEO from inception to its ultimate sale to Alstom in 2007 for $242 million by Calpine Corporation. PSM is a leading independent provider of high value gas turbine parts and low-Nox upgrade solutions for industrial gas turbines used in power generation, and is the largest non-OEM manufacturer of advanced turbine components for several GE and Siemens IGT models. Prior to founding PSM, Mr. Churbuck founded Tropic Aviation which was a jet engine parts trading business (1996-1998) and was President of HydroServ Group, an underwater construction services supplier to the international hydroelectric power market (1992-1996). Mr. Churbuck served as a member of the U.S. Army Special Operations (Green Beret) from 1981 to 1992. He became a General Partner of AeroEquity in 2001.

Michael Greene
Education: College of the Holy Cross, BA
Harvard Business School, MBA
Managing Partner

Mr. Greene has seventeen years of private equity investment experience as a Founding Partner of UBS Capital LLC in 1992, a $1.0 billion balance sheet private equity vehicle of UBS AG, and in 1999 of UBS Capital Americas II, LLC, a $1.0 billion off balance sheet private equity fund sponsored by UBS AG. Over this 17-year period, Mr. Greene has made over 30 private equity investments. From 1990-1992, Mr. Greene was a founding member of UBS AG's Leveraged Finance Group which provided senior and mezzanine capital to sponsored leveraged buyouts. Mr. Greene has been an investment partner in eleven AeroEquity sponsored investments since 2001.

Thomas E. Brew, Jr.
Education: Boston University, BS
Boston University, LLB
Attorney and Certified Public Accountant
General Partner

Mr. Brew has an extensive background in operations management and restructuring of under-performing businesses. He was the Chief Operating Officer of Power Systems Manufacturing from 2001 to 2008, during which period the size of the business grew from $8 million in revenue to over $90 million. From 1998 to 2000, he was the Chief Executive Officer of Laclede Steel, a publicly traded steel company that he successfully restructured, and from 1994 to 1997, he was Chief Executive Officer of Kurzweil Applied Intelligence Inc., a publicly traded speech recognition software company which was also successfully restructured and sold. From 1988 to 1994, Mr. Brew was a co-founder and Executive Vice President of ARGUS Management Corp., an operations management firm specializing in distressed situations and providing interim management services.

Wayne P. Garrett
Education: Boston College, BS
Boston College, MBA
Certified Public Accountant
General Partner

Mr. Garrett brings a substantial public and private company financial operations background to the Manager. From 1998 through its sale to Alstom in 2007, Mr. Garrett was the Chief Financial Officer of Power Systems Manufacturing. Prior to joining PSM, he was the Chief Financial Officer of Cambridge SoundWorks Inc., a NASDAQ-listed company, from 1995 until its merger with Creative Technology Ltd. in 1997. Mr. Garrett served as a management consultant with ARGUS Management Corp. from 1983-1995 and earned his CPA while at Price Waterhouse.

Dennis Walsh
General Partner



Dennis has enjoyed several roles in the aircraft engine industry spanning 4 decades. From his early days as a process engineer at Howmet and Precision Cast Parts, he developed processes to manufacture both structural and gas path investment castings for GE and Pratt & Whitney programs. In the early 80's he mastered structural mold integrity design to allow for multiple part production with pour weights soaring to the 1000 lb. range, unheard of at the time. Productivity output per furnace hour leaped as costs halved allowing throughput to leap by factors of 4.

Joining GE in the early 80's Dennis held increasing roles of responsibility including, Castings Development Quality Manager Lynn, Production Engineering Manager for Source Approval Evendale, and lastly Business Development Manager before assuming the leadership position at GE Accessory Services, Grand Prairie. In his last position at GE, he led the On Wing Support business operation in Dallas Texas, servicing GECAS and Shannon's lease engine pool as well as directing field service activity for GE's North and South American's CFM and CF34 installed base.

In 2002 Dennis led a team that bought and privatized Grand Prairie Accessory Services which he grew to the world number one non OEM Accessory Service Centers in terms of capability, capacity, and turn time. Grand Prairie became the first and only facility which could service every accessory on GE's CFM56-3/5/7, CF34-3/8, CF6-50/80 and IAE's V2500 Engine Families. GPAS' customer base included every major engine MRO including GE, P&W, Lufthansa, MTU, IHI, EGAT, and ANZ.

After selling GPAS to the Triumph Group and taking a brief respite in 2008, Dennis returned to the Aerospace Industry where today he served Chromalloy in the capacity of Vice President, Business Development. In early 2011 assumed the position of CEO of BP Aerospace and leads the business development, marketing, and facility management efforts. Additionally Dennis heads up the effort to bring FAA 145 MRO activity on line for the new entity BP Aero Services.