19-Jan-2011 Source: Living Legends of Aviation
Lynn Tilton, founder and CEO of private equity firm Patriarch Partners, LLC (â€œPatriarchâ€) and industrialist will be honored as â€œAviation Entrepreneur of the Yearâ€ at the 8th Annual Living Legends of Aviation Awards ceremony on January 21st at the Beverly Hilton in Beverly Hills, CA. Ms. Tilton is being recognized for her leadership in the successful turnaround of Patriarch portfolio company MD Helicopters (MDHI). In addition to her role at Patriarch, Ms. Tilton also serves as Chairman and CEO of MD Helicopters, the company founded by aviation pioneer Howard Hughes.
â€œI am both humbled and honored by this valued recognition in an industry that attracts so many talented leaders and great warriors. Once tempted, it is difficult not to fall in love with aviation and to devote oneself fully to the mission, at hand.â€
Often referred to as the â€œAcademy Awards of Aviation,â€ the aviation Legends awards gala is produced by Kiddie Hawk Air Academy, a non-profit organization that introduces children to aviation. The â€œLiving Legends of Aviation Awardsâ€ are considered the most prestigious and important recognition event for great work, dedication and accomplishments in aviation. The importance of leadership and commitment to aviation in these challenging times make this recognition event even more significant.
Since acquiring the company in August of 2005, Ms. Tilton has led MD Helicopters to profitability, delivering more than 50 helicopters in 2008 â€“ although she inherited a shuttered production line and shattered supply chain in 2005. Under Ms. Tiltonâ€™s leadership, MD Helicopters has been recognized as an industry leader in customer service and support of its more than 3,000 aircraft currently in operation around the world. Prior to Ms. Tiltonâ€™s acquisition, MD Helicopters ranked last in customer service/support in the rotorcraft industry.
About Patriarch Partners, LLC:
Patriarch Partners, LLC, is a private equity firm and holding company managing 74 companies with annual revenues of more than $8 billion. Founded by Wall Street veteran Lynn Tilton in 2000, Patriarch is dedicated to saving American manufacturing jobs by saving American companies that have fallen from economic favor. Since its inception, Patriarch has bought more than 150 companies, and in so doing has saved over 250,000 jobs. Patriarchâ€™s portfolio includes a broad range of industrial concerns including Dura Automotive, American LaFrance, Denali, and MD Helicopters, in addition to iconic American brands such as Rand McNally, Spiegel Catalogs and Stila Cosmetics. Under Ms. Tilton’s leadership, Patriarch has become the largest woman-owned business in America employing more than 120,000 employees. For more information, please visit: www.patriarchpartners.com.
About MD Helicopters, Inc.:
MD Helicopters, Inc. is a leading manufacturer of commercial and military helicopters. The MDHI family of rotorcraft is world renowned for its value, versatility and performance. The MD Helicopters family includes the twin-engine MD ExplorerÂ®, and single engine versions of the MD 600NÂ®, MD 520NÂ®, MD 500EÂ® and MD 530FÂ®. The NOTARÂ® system for anti-torque control is used exclusively by MD Helicopters. The Company is based in Mesa, Ariz. For more information about MDHI visit: http://www.mdhelicopters.com.
About Living Legends of Aviation:
The “Living Legends of Aviation” are 70 admirable people of remarkable accomplishment in aviation including: entrepreneurs, innovators, industry leaders, record breakers, astronauts, pilots who have become celebrities and celebrities who have become pilots. The Legends meet yearly to recognize and honor individuals that have made significant contributions in aviation. http://livinglegendsofaviation.org/
SEE ALSO -> MD produced 12 helicopters in 2010, not 50