Enstrom Helicopter was just recently brought back to life out of bankruptcy as the owners of Midlothian and MidTex has made an investment to purchase all the assets of the company. This helicopter company will reopen in April, and will be back in business at that point.
After 64 years on operation, Enstrom had to file for Chapter 7 Bankruptcy not too long ago and had to liquidate all of it’s assets. Those who were involved in the acquisition expect to operate the company through a brand new entity, which will be known as Enstrom Aerospace Industries.
Ken Griffin, who is the President of MidTex, made a statement on the acquisition. “We are extremely excited about acquiring these assets, restarting the former Enstrom facility, and expanding the scope of the business…We already have a number of former Enstrom employees working with us on a contract basis. After closing, we expect to make job offers to a substantial number of former Enstrom employees.”
The company will prioritize providing product support to it’s clients and continue to work on a crash-resistant fuel system. One employee said their progress towards manufacturing these systems were “80% there”. These fuel systems became mandatory in 2020, so they should be in fairly large demand.
MidTex will acquire all of the parts, tooling, supplies, materials, etc. of Enstrom. “We’ll be going after all our markets pretty hard” said Griffin.