Hammond, Kennedy, Whitney & Company (HKW) has sold its portfolio company Arnold Engineering to Noranco, a manufacturer and services provider to commercial and military aerospace companies .
Arnold Engineering is a contract manufacturer of complex machined parts and assembly structures used by companies in the military and commercial aerospace industries. Arnold Engineering was acquired by HKW in 2009 and is based in Corona, CA (www.arnoldeng.com).
“We were pleased to support the Arnold team during its growth of key customer relationships, high quality product standards, and developing technologies,” said Mark Becker, Partner at HKW and former Chairman of Arnold.
Hammond, Kennedy, Whitney & Company invests in companies with revenues between $20 million and $200 million and EBITDAs between $2 million and $20 million. Over the past 29 years, HKW has completed 44 platform management buyouts of small middle-market companies throughout North America as well as 48 add-on acquisitions. The firm was founded in 1903 and is headquartered in Indianapolis with an additional office in New York (www.hkwinc.com).
Houlihan Lokey (www.hl.com) acted as the exclusive financial advisor to HKW on the sale of Arnold.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-13-14
