Challenge: Airfoil Technologies International, a global joint venture between General Electric and Sermatech International, was experiencing serious financial and operational instability. The JV, with operations in North America and Asia, was losing hundreds of thousands of dollars each month. The incumbent President lacked credibility with the Fortune 500 OEM partner, and confidence from both JV partners was declining rapidly.
Aerosource was engaged to identify a new President who could stabilize the business, rebuild board confidence, and drive a fast-paced operational turnaround across both divisions. The ideal leader needed to be boardroom-savvy, financially disciplined, and equally comfortable driving results on the shop floor.
Strategy: Aerosource led a comprehensive discovery process with executive stakeholders from both JV partners. Following a rigorous and collaborative assessment process, we built a profile of a sophisticated operational executive with global experience, strong P&L accountability, and a proven track record in joint ventures and OEM partnerships.
We conducted a rigorous and confidential national search focused on MRO leaders with advanced coatings or complex aerospace component repair experience. Our search emphasized individuals with turnaround capability, joint venture experience, and cross-border operational leadership.
One candidate quickly stood apart: Jeffrey D. Wood, a seasoned aerospace executive with a track record of global operational and financial leadership. Prior to ATI, Jeffrey held senior roles at companies including Pratt & Whitney, Interturbine Corporation, and StandardAero. His pre-ATI experience included full P&L responsibility for multiple international divisions, driving successful turnarounds, overseeing M&A activity, and managing global joint ventures across Europe, Asia, and North America. These roles laid the foundation for his strong cross-functional leadership and expertise in scaling complex organizations. Jeffrey’s leadership track record included significant revenue and EBITDA growth, strategic international expansions, and the development of proprietary capabilities for next-generation aircraft engines.
Results: Jeffrey Wood was hired with full support from both GE and Sermatech leadership. Within his first 90 days, he launched a comprehensive stabilization plan across both locations, aligned reporting structures, and introduced key operational reforms backed by OEM stakeholders.
During his tenure at ATI:
- Grew revenue from $50M to over $300M (6x growth)
- Increased EBITDA 15x and more than doubled EBITDA margin to over 30%
- Improved working capital 7% year-over-year
- Drove 30% improvement in yield and 50% improvement in delivery, raising customer satisfaction to 98%
- Consolidated four facilities and saved $10M in overhead
- Opened and scaled ATI’s Singapore site to $200M+ in revenue and 500 employees
- Secured $67M in international R&D and tax incentives
- Led a joint venture with Snecma to gain product exclusivity and expand aftermarket capabilities
- Captured 75% market share on the CFM56 and 100% on the GE90 engine platforms
ATI’s operations and governance stabilized under Jeffrey Wood’s leadership, marked by substantial international expansion and sustained performance improvements—most notably in Singapore, which grew into a $200M+ flagship facility. In recognition of the venture’s progress and long-term potential, GE acquired Sermatech’s parent company Teleflex’s 51% ownership stake in 2009, assuming full control of the joint venture.