Aerospace & Defense Divestitures in 2019
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December 17, 2019
- Buyer
- Whitcraft Group
- Target
- EvoAero, Inc. (Evolution Aero), Condor Industries, LLC
- Seller
- EvoAero, Inc. (Evolution Aero), Condor Industries, LLC
- Industry
- Aerospace & Defense
- Location
- United States
- Type
- Divestiture
Whitcraft Group, an Eastford, Connecticut-based aeroparts manufacturer, acquired substantially all assets of EvoAero, Inc. (Evolution Aero) in Windsor, CT and Condor Industries, LLC in Fort Lauderdale, FL. The deal increases Whitcraft's production capacity and expands its reach into the power generation market while consolidating complementary aerospace manufacturing capabilities.
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- Buyer
- Hannover Finanz
- Target
- E.I.S. Aircraft Products & Services
- Seller
- EQT Mid Market
- Industry
- Aerospace & Defense
- Location
- North Rhine-Westphalia, Germany
- Type
- Divestiture
Hannover Finanz has agreed to acquire E.I.S. Aircraft Products & Services, a German supplier of lightweight cabin interior products and composites-based solutions, from the EQT Mid Market fund. The transaction, subject to merger authority approvals, represents a portfolio sale by EQT and positions Hannover Finanz to expand its industrial/aerospace investments; financial terms were not disclosed.
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April 22, 2019
- Buyer
- Arlington Capital Partners
- Target
- Radius Aerospace, Inc.
- Seller
- Triumph Group, Inc.
- Industry
- Aerospace & Defense
- Location
- Arkansas, United States
- Type
- Divestiture
Arlington Capital Partners completed the carve-out acquisition of Triumph Group’s forming and fabrication facilities and launched the business as Radius Aerospace, Inc. The deal creates a pure‑play aerospace forming and fabrication platform serving OEM and Tier‑1 aerospace & defense customers, with plans for organic growth and strategic add‑ons.
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April 1, 2019
- Buyer
- An affiliate of Balmoral Funds, Senior management team of Aero Interiors Company
- Target
- Aero Interiors Company (AIC)
- Seller
- Fortune 500 Aerospace and Defense company
- Industry
- Aerospace & Defense
- Location
- United States
- Type
- Divestiture
An affiliate of Balmoral Funds partnered with an all-new senior management team to acquire Aero Interiors Company (AIC) from a Fortune 500 aerospace and defense company in March 2019. AIC is a custom aircraft-interiors manufacturer (also designing specialized aircraft armor systems) serving military and commercial markets worldwide; the deal returns the business to a founder/management-led ownership and positions it for a new growth phase.
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- Buyer
- Cornerstone Capital Holdings
- Target
- N2 Imaging Systems
- Seller
- Collins Aerospace, United Technologies Corporation
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Divestiture
Cornerstone Capital Holdings acquired N2 Imaging Systems from Collins Aerospace (a unit of United Technologies Corporation) in a divestiture announced February 15, 2019. The acquisition adds compact visible and infrared imaging system design and manufacturing capabilities to Cornerstone’s aerospace and defense portfolio to support military situational awareness and surveillance missions.
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January 22, 2019
- Buyer
- JW Hill Capital, digEcor
- Target
- Commercial in‑flight entertainment (IFE) business of Collins Aerospace
- Seller
- Collins Aerospace
- Industry
- Aerospace & Defense
- Location
- North Carolina, United States
- Type
- Divestiture
JW Hill Capital partnered with Brisbane-based digEcor to acquire the commercial in-flight entertainment (IFE) business from Collins Aerospace and combine the assets under the new global brand Burrana. The deal brings together Collins/Rockwell Collins' PAVES product lines and digEcor's cabin technology portfolios to create a larger IFE and cabin-technology competitor serving airlines worldwide; financial terms were not disclosed.
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- Buyer
- Cornerstone Capital Holdings
- Target
- AeroGen-TEK (formerly MECO)
- Seller
- Doncasters Group Ltd
- Industry
- Aerospace & Defense
- Location
- Illinois, United States
- Type
- Divestiture
Cornerstone Capital Holdings acquired AeroGen-TEK (formerly MECO) from Doncasters Group Ltd, completing Doncasters' planned divestiture of its North American fabrications businesses. AeroGen-TEK, based in Paris, Illinois, makes precision metal fabrications and machined components for aerospace, industrial gas turbine and marine OEMs and will continue to be led by President Tim Hough under Cornerstone's ownership.
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