The private equity firm Arlington Capital Partners and the management of Britain’s MB Aerospace Holdings, Ltd., have acquired the maker of military aircraft engine and industrial gas turbine components in a secondary buyout of the company.
Terms of the deal were not disclosed but Arlington Capital will have a majority stake in the company, which has grown from $28 million in sales in 2008 to $81 million in 2012.
Arlington Capital said the acquisition is part of an effort to create a larger company in the aircraft engine space that makes it easier for the engine manufacturers to work with.
“Going forward, MB Aerospace is well positioned to lead a consolidation effort in the highly fragmented mature and legacy aero-engine market,” Jesse Liu, principal at Arlington, said in a statement. “The company’s best-in-class engineering expertise, strong history of past performance and unique market focus enable MB Aerospace to partner with OEM’s (original equipment manufacturers) to address overall under-performance issues in their supply chains.”
MB Aerospace’s customers include United Technologies [UTX] Pratt & Whitney division, Britain’s Rolls-Royce, General Electric [GE], Boeing [BA], Britain’s GKN, Japan’s Mitsubishi Heavy Industries, and Sweden’s Volvo Aerospace.