Erickson Acquires Full Ownership of 321 Precision Conversions
Portland, OR - February 24, 2026 - 321 Precision Conversions (“the Company”), a leading provider of Airbus A321-200PCF freighter conversions, today announced that Erickson Group Ltd. (“Erickson”), a global, diversified aviation and aerospace enterprise, has acquired full ownership of the Company through its wholly owned subsidiary, Precision Aircraft Solutions, LLC.
Per the terms of the transaction, Erickson has expanded its existing, majority stake in 321 Precision Conversions through the acquisition of Air Transport Services Group, Inc.’s (“ATSG”) minority stake in the Company held through its subsidiary, Cargo Aircraft Management, Inc.
“This is an important strategic milestone for the future of 321 Precision Conversions as it strengthens our commitment to delivering advanced freighter conversion solutions to global cargo operators,” said Gary Warner, President of 321 Precision Conversions. “Full ownership under Erickson enables us to invest more boldly in our people, our partners, and the next generation of conversion programs. We thank ATSG for their support and collaboration over the years, and will continue to support them as a customer.”
“We’re grateful to ATSG for their partnership and support in building the A321PCF program,” said Dylan Garner, President, Erickson Group. “We believe strongly in the platform, the team at 321 Precision Conversions, and the long-term demand for narrowbody freighters. We’re excited to build on this foundation and continue investing in the program’s next phase of growth.”
“ATSG has played an active role in the development and launch of the A321PCF program,” said Todd France, Chief Commercial Officer, ATSG. “We’re pleased to transition our interest in the program to Erickson, whose leadership will guide 321 Precision Conversions into its next phase. We look forward to continuing to market the A321 converted freighter as part of ATSG’s broader leasing portfolio.”
321 Precision Conversions will continue to serve customers worldwide, with engineering, certification, and MRO operations.
About 321 Precision Conversions
321 Precision Conversions is a global leader in passenger-to-freighter conversion programs, with a focus on delivering innovative, high-performance cargo aircraft solutions to meet evolving logistics demands.
About Erickson
Erickson Group is a private family office with a focused investment strategy in aviation businesses. Established to invest in, acquire, and actively operate aviation companies with longterm
strategic value, Erickson Group partners with management teams to drive operational excellence, sustainable growth, and long-term value creation across its portfolio.
About Air Transport Services Group
Air Transport Services Group (ATSG) is a premier provider of aircraft leasing and air cargo transportation solutions for both domestic and international air carriers, as well as companies seeking outsourced air cargo services. ATSG is the global leader in freighter aircraft leasing with a fleet that includes Boeing 767, Airbus A321, and Airbus A330 aircraft. A diverse portfolio of subsidiaries encompasses ATSG's Lease+Plus aircraft leasing strategy, including three airlines holding separate and distinct U.S. FAA Part 121 Air Carrier certificates, to provide air cargo lift, passenger ACMI and charter services, aircraft maintenance, airport ground services, and material handling equipment engineering and service. ATSG subsidiaries include ABX Air, Inc.; Airborne Global Solutions, Inc.; Airborne Maintenance and Engineering Services, Inc.; Air Transport International, Inc.; Cargo Aircraft Management, Inc.; and Omni Air International, LLC.
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