SOURCE: Universal Asset Management
MEMPHIS, TN--(Marketwired - Oct 7, 2013) - Universal Asset Management Inc., a global leader in aviation asset management, aircraft disassembly and commercial aviation aftermarket component sales, announces that UAM Holdings Inc., a corporation wholly owned and operated by Keri Wright, has acquired 100% of Universal Asset Management and its wholly owned subsidiary, Universal Air Repair, LLC.
The transaction will enable Universal Asset Management to build upon its customer focus, drive continued organic growth, and pursue aviation asset acquisition opportunities. In conjunction with the acquisition, company founder and CEO Steve Manley announces his retirement from Universal Asset Management.
Along with her new role as President and CEO, Keri will continue managing the day to day operations. "Keri has essentially been running the company for the past several years in her role as COO, and selling the company to her will allow UAM to continue to expand under her ownership," said Steve Manley. Keri Wright added that this acquisition "will enable UAM to continue to provide the level of service that our customers expect while expanding UAM's global reach and diversifying the services we offer to the aviation industry. Today is an exciting day for UAM."
About Universal Asset Management Inc.:
Universal Asset Management is a global leader in aviation asset management, aircraft disassembly and commercial aviation aftermarket component sales. Headquartered in Memphis, Tennessee, UAM has additional offices in Atlanta, Beijing, Indianapolis, Toronto, Malaysia, London, South Africa and the Middle East. The aircraft disassembly facility at the Tupelo Regional Airport, along with the 450,000 square foot global distribution center in nearby Verona, moved from Arkansas to Mississippi in March 2011 to facilitate the next step in UAM's international business growth.