The Merex Group, a portfolio company of Dubin Clark & Company, has acquired Kellstrom Defense Aerospace, a provider of aerospace logistics. This is the fourth add-on acquisition for The Merex Group since being acquired by Dubin Clark in October 2011.
Kellstrom Defense provides aftermarket logistics and inventory support for a variety of defense derivative aircrafts. The company is headquartered in Miramar, FL (www.kellstrom.com).
The Merex Group is a provider of support services for US manufactured legacy defense platforms including aircraft, helicopters and their respective engines. Supporting more than 35 armed forces worldwide that operate legacy defense platforms, Merex provides spares & components, repair & overhaul management, and project management of systems upgrades. The company is headquartered in Camarillo, CA (www.merexinc.com).
“This transaction reaffirms the opportunity we see to drive consolidation and scale in the global defense aftermarket space. The opportunity to support a strong management team and well-positioned strategy continues to be embraced by our investor base,” said Michael Hompesch, a Partner at Dubin Clark.
GE Antares served as administrative agent on the senior secured credit facility used to support the acquisition of Kellstrom. GE Capital Markets served as sole lead arranger and joint bookrunner on this facility.
“GE Antares is a valued business partner, bringing more than just capital,” said Mr. Hompesch. “They also brought GE’s expertise in aerospace, helping us realize the opportunity we see to drive consolidation and scale in the global defense aftermarket space.”
Dubin Clark seeks to acquire manufacturing, value-added distribution, and service companies with $10 million to $100 million in revenues and at least $2 million of EBITDA. The firm was founded in 1984 and is based in Greenwich, CT (www.dubinclark.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-15-14
