PRV Aerospace, LLC Closes Acquisition of Astro Spar, Inc.
EVERETT, Wash. -- January 3, 2013
PRV Aerospace, LLC (“PRV Aerospace”), a portfolio company of Court Square
Capital Partners (“Court Square”), announced today that it has acquired all of
the outstanding stock of Astro Spar, Inc. (“Astro Spar” or the “Company”).
Located in City of Industry, California, Astro Spar is a manufacturer of long,
complex, precision-machined components and assemblies for the commercial and
military aerospace industries.
“The capabilities of Astro Spar, its aircraft platform positions, the strength
of the management team and a strong presence in the commercial aerospace
market fit well with our existing businesses and overall strategic direction,”
said Richard Wood, CEO of PRV Aerospace. “We look forward to partnering with
the Astro Spar management team, which will continue to be led by Omar Khan,
and the employees, to build on the Company’s excellent reputation and further
expand the range of products and services we offer to our customers.”
Debt financing for the transaction was provided by GE Antares Capital and Ares
Capital Corporation. AeroAdvisory, LLC provided strategic advice and due
diligence and purchase agreement negotiation support to PRV Aerospace
management. Janes Capital Partners acted as exclusive financial advisor to
About PRV Aerospace, LLC
Headquartered in Everett, WA, PRV Aerospace is a precision manufacturer of
flight critical components for the commercial aerospace and defense
industries. Through machining of hard metals, alloys and aluminum, fabrication
of sheet metal and production of complex assemblies, PRV Aerospace
manufactures parts for the most successful existing and next generation
commercial aviation and defense programs. For more information on PRV
Aerospace please visit www.prvaerospace.com.
About Astro Spar, Inc.
Located in City of Industry, CA, Astro Spar is a leading manufacturer of
large, flight-critical, structural components for the commercial aerospace
industry. The Company’s products are manufactured using aluminum alloys and
include spars, door beams, stringers, webs, chords, longerons, chines, wing
formers and seat tracks. For more information on Astro Spar please visit
About Court Square Capital Partners
Court Square is one of the most experienced teams in the private equity
industry. Since 1979, the team has made over 200 investments including several
landmark transactions and has developed numerous businesses into leaders in
their respective markets. Based in New York, NY, Court Square invests in
companies that have compelling growth potential. The firm manages over $5.5
billion in aggregate capital commitments while focusing on the following four
sectors: business services, general industrial, healthcare and
technology/telecommunications. For more information on Court Square please
PRV Aerospace, LLC
Richard Wood, 425-356-1369
Edelman for Court Square
Samantha Nelson, 212-704-4589
Press spacebar to pause and continue. Press esc to stop.