Pemco Aviation Group said it will sell its subsidiary, Pemco World Air Services, to an affi liate of Sun Capital Partners for an aggregate purchase price of some $43m.

Pemco World Air Services, which will retain the name "Pemco," constitutes the commercial services segment of PAGI, and provides commercial aircraft maintenance and modifi cation services on a contract basis. Sun Capital Partners, Inc. is a leading private investment firm.

Participating with Sun Capital in the acquisition is industry veteran Wake Smith, who most recently served as chief operating offi cer of Atlas Air and Polar Air Cargo.