Valence Surface Technologies, a portfolio company of Trive Capital, has acquired Blue Streak Finishers, a metal finishing company serving the Pacific Northwest aerospace machining market. Trive acquired Valence Surface Technologies in October 2013.
Blue Streak Finishers specializes in providing processing and related services for large and complex aerostructures. The company’s facility is located within 15 miles of several Boeing production sites and offers unique 30 ft. tank capabilities for large monolithic assemblies. Blue Streak is based in Everett, WA (www.bluestreak-finishers.com).
Last month, Valence completed three add-on acquisitions with the buys of Pride Plating, Dynamic Paint Solutions, and Coastline Metal Finishing (Trive Completes Trio of Add-ons for Valence).
“With the addition of Blue Streak, Valence now has an established presence in every key North American aerospace machining hub, which will allow the platform to better serve the needs of the broader supply chain. As with each of the recent facility acquisitions, Trive is investing further capital to significantly expand capacity and enhance service capabilities in the region for our customers and OEMs,” said David Stinnett, Managing Director at Trive Capital.
Valence Surface Technologies provides specialized metal processing and finishing services to the commercial aerospace, defense, and space & satellite markets. Valence offers a range of wet and dry processing capabilities for aluminum, titanium, and steel structures. These offerings include: anodizing, plating, shot peening, painting, and non-destructive testing. The company operates eight facilities and is one of the largest independent aerospace & defense metal processors in North America. Valence is headquartered in Los Angeles (www.valencesurfacetech.com).
“The Blue Streak transaction adds a strategically important region and offers substantial opportunity for growth within the Valence platform,” said Conner Searcy, Managing Partner at Trive Capital. “We look forward to complementing the acquisition’s strong reputation and long history in the Seattle aerospace market with an operational approach focused on best-in-class technical resources, production systems and facility investment to realize the company’s full potential.”
Trive Capital invests from $10 million to $60 million in North American headquartered companies that have revenues of $30 million to $500 million. Sectors of interest include automotive & transportation; aerospace & defense; building products; construction & infrastructure; consumer goods; energy services; healthcare; manufacturing and industrials; chemicals; distribution; business & professional services; and communications. Trive, founded in 2012 by Conner Searcy and Chris Zugaro, is currently investing from a $300 million institutional fund raised in 2013. The firm is based in Dallas (www.trivecapital.com).
2014 PEPD • Private Equity’s Leading News Magazine • 9-18-14