VALENCIA, Calif.--(BUSINESS WIRE)--Feb. 23, 2015--
Wesco Aircraft Holdings, Inc. (NYSE:WAIR), a leading provider of
comprehensive supply chain management services to the global aerospace
industry, today announced that its board of directors has appointed
Thomas M. Bancroft III as a director, effective immediately. Mr.
Bancroft will serve as a Class III director, with an initial term
expiring at the company’s 2017 Annual Meeting of Stockholders.
Randy Snyder, chairman of the board, said, “We are pleased to welcome
Tom to Wesco’s board. He brings significant investment experience and
adds another strong shareholder perspective to the board. Tom has a
clear understanding of the company’s strategic direction and our
commitment to the highest levels of customer service.”
“I am excited to be joining Wesco’s board during this important time in
the company’s history,” said Bancroft. “Wesco Aircraft has a solid
reputation in the marketplace. I look forward to working with the board
and management to ensure that this reputation continues well into the
future and translates into long-term shareholder value.”
Mr. Bancroft is currently the managing member, portfolio manager and
chief investment officer at Makaira Partners, LLC, an investment
management firm that he founded in 2007. Mr. Bancroft previously served
as a senior managing director and portfolio manager at Plaza Investment
Managers, Inc., a wholly owned subsidiary and the internal
investment division of GEICO, one of the largest auto insurance
companies in the United States. GEICO is an indirect, wholly owned
subsidiary of Berkshire Hathaway, Inc.
Mr. Bancroft began his career as a staff writer and reporter for Financial
World and Forbes, respectively. Mr. Bancroft graduated from
the University of Colorado at Boulder with a Bachelor of Science degree
in Political Science.
Makaira Partners is a private investment management firm based in La
Jolla, California that manages investment partnerships for individuals,
family offices, endowments and non-profit organizations. Makaira is one
of Wesco Aircraft’s largest shareholders; the firm currently owns
approximately 7.5 percent of the company’s outstanding common stock. Mr.
Bancroft may be deemed to beneficially own (including the shares
beneficially owned by Makaira) approximately 7.6 percent of the
company’s outstanding common stock.
About Wesco Aircraft
Wesco Aircraft is one of the world’s largest distributors and providers
of comprehensive supply chain management services to the global
aerospace industry. The company’s services range from traditional
distribution to the management of supplier relationships, quality
assurance, kitting, just-in-time delivery and point-of-use inventory
management. The company believes it offers one of the world’s broadest
inventories of aerospace products, comprised of more than 575,000 active
stock keeping units, including hardware, bearings, tools, electronic
components, machined parts and chemicals. Wesco Aircraft has more than
2,700 employees across 80 locations in 19 countries.
To learn more about Wesco Aircraft, visit our website at www.wescoair.com.
Follow Wesco Aircraft on LinkedIn at https://www.linkedin.com/company/wesco-aircraft-corp.
Source: Wesco Aircraft Holdings, Inc.
Wesco Aircraft Holdings, Inc.
Jeff Misakian, 661-362-6847
President, Investor Relations