Essential Turbines Inc. (“ETI”), a leading provider of maintenance, repair, and overhaul (MRO) services for aircraft engines, has appointed Steve Townes ’75 to its Board of Directors. The Board also includes Mike Guntner Jr., ETI’s Founder, plus leaders from Swift Anchor Holdings and Balance Point Capital Partners (“Balance Point”).
Townes is the CEO of Ranger Aerospace LLC (“Ranger”), which he founded in 1997. Ranger has a proven track record of success in similar ventures, including Keystone Helicopter. During Townes’ tenure as CEO of Keystone, that leadership team tripled the business, built out all of its technical services, and added new certifications for MRO on multiple rotorcraft and engine types. Keystone also enhanced engineering and avionics capabilities, all while achieving transformational improvements in facilities, market share, branding, and shareholder value-creation.
“I am enthused about helping with the strategic growth of Essential Turbines,” said Townes. “Essential has over three decades of outstanding work, and their customer service ethos is exemplary. ETI now has more robust resources for expansion.”
Townes has partnered with Balance Point in several prior middle-market growth platforms and grew those companies to considerable scale, such as Ranger International Services Group. Steve has served as a Board member across all of Ranger’s multiple growth platforms over the past 27 years. Each of these platforms, taken from start to successful exit, was recognized for its high-performance culture and rapid expansion, a testament to Ranger’s unwavering commitment to talent and an aggressive approach to business development.
Steve is a 44-year veteran of the aerospace and defense industry. He is also the founding chairman and continuing board member of “SC Aerospace,” a statewide public/private partnership in his home state where aerospace has become a burgeoning industry segment.
