Cerberus buys aviation support firm, brings in new CEO

Cerberus Capital has acquired the controlling ownership of a company focused on aviation support service and also brought in a new CEO.

The private equity group bought Denton, Texas-headquartered M1 Support Services and named George Krivo as CEO. Terms of the transaction announced Tuesday were not disclosed.

Krivo was CEO of DynCorp International from 2017 until 2020, when it was acquired by Amentum. He is also a former executive with Science Applications International Corp. and Leonardo DRS.

M1's founders Kathy Hildreth and Bill Shelt remain as investors and will serve on the board of directors.

M1 provides a range of aviation services to the Defense Department and other federal agencies. The company's lines of work include maintenance and repair, modifications, flight training, logistics and supply chain management.

Cerberus brings an infusion of resources to M1 that will be used to invest in the company’s infrastructure and expand its capabilities.

M1 has captured $849.1 million in prime contract obligations over the trailing 12 months, according to USASpending.gov.

The company's two largest customers are the Army and Air Force. Other clients include the IRS, Drug Enforcement Administration and NASA.