January 19, 2015
PAS Technologies announces divestiture of Cork, Ireland facility
PAS Technologies announced that the company has successfully completed the sale of its Cork, Ireland operation to Knox Capital Holdings (“Knox Capital”). The acquisition by Knox Capital, along with a majority recapitalization of TRS Services has resulted in the formation of a new company known as TRS Global. David Theis, former Senior Vice President of Sales at PAS, was involved in the transaction, and he now leads TRS Global as Chief Executive Officer. PAS Technologies specializes in providing cost-effective original equipment manufacturing (OEM) and maintenance, repair, and overhaul (MRO) products, services and solutions for the commercial and military aerospace, Industrial Gas Turbine (IGT), and oil and gas (O&G) markets. The former PAS Ireland facility team, led by General Manager Gerard Hurley, will remain in place. PAS Ireland will be renamed Turbine Repair Services Global Ireland, Ltd., doing business as TRS Global Ireland.