By Kristina Doss
September 17, 2010

A group led by Air-Capital Group LLC beat out more than 500 parties vying for AeroThrust Corp.’s jet engine maintenance business at an auction with its $5 million offer. The auction was staged both on site at AeroThrust’s 140,000 square foot Miami facility and simultaneously through an Internet webcast. Equipment, tooling and parts inventory, as well as a number of remanufactured engines were among the tangible assets up for sale. Robert Levy, chief executive of Hilco Industrial, said that it was initially believed that AeroThrust’s assets would be sold in individual lots. However “it became clear early on in the auction process that there was more value to be recovered in a bulk sale,” he said in a statement Thursday. David Weiss, vice president of sales at Heritage Global Partners, added that selling AeroThrust in tact was significant… Read Full Story on WSJ Pro