VERO BEACH, FL -- The new owners of Piper Aircraft Inc. and their stated goal of extending its market to Asia scored applause Friday from business leaders, government officials and even some employees.
Imprimis, a corporate finance and investment management firm with offices in Bangkok, Singapore, and Brunei Darussalem, bought 100 percent of the stake in Piper from Maryland-based American Capital Strategies Ltd., the previous owner.
“This is continuing cause for optimism in the future,” said Scott Dort, a manufacturing engineer for Piper.
While the short term may not see dramatic changes, he said, the long term will be better for aviation.
“It’s a company willing to invest in our future, and not just sustain Piper like (American Capital) was doing,” he added.
Leah Gokert, who works in dealer development for Piper, said she was glad to hear Imprimis would “want to make airplanes” and boost Piper’s market.
Curt LoPresti, whose LoPresti Aviation company supplies some parts to Piper, said Asia is a booming market.
“Aviation is going to explode over there and this is probably very good for the company,” said LoPresti.
An increased market and increased employment could result in spin-off benefits for his company and the rest of the local economy, he said.
“We think it’s great,” said Helene Caseltine, economic development director for the county Chamber of Commerce. “It gives Piper more strength and opens a brand-new market (in Asia) they’ve never had before. It’s a global economy these days.”
Bump Holman, president of Sun Aviation Inc., which services Piper planes, was more reserved but hopeful.
“American Capital had very limited capital,” he said. “At least they didn’t give Piper much of it. I can’t help but think the new company can do a lot better.”
County Commissioner Peter O’Bryan, the commission’s liaison to the Economic Development Council, said it bodes well for the county’s economy when a well-funded international company goes into business here. Other companies may well take notice.
“If they’re coming here, they must see some opportunity, really see some money in it,” he said.
State Rep. Ralph Poppell, R-Vero Beach, said the number of jobs and economic impact is more important that who is the owner.
"My first question was are they going to stay local and the answer is yes," Poppell said. "I think we'll be better off because of the amount of power that this new company will have behind them."
