B&E Group, a portfolio company of MPE Partners since November 2015, has acquired Safe Fuel Systems, an FAA/EASA certified component repair station engaged in the maintenance, repair, inspection and alteration of aircraft components and parts for major domestic and international operators.
Safe Fuel Systems was founded in 2001 by Rafael Fuentes and Ann Justiz, who will both continue to manage the daily operations of SFS. The company is headquartered in Hialeah, FL (www.safefuelsystems.com).
B&E Group operates through two business units. The MRO group provides repair and overhaul services with over 700 individually designed and approved repair procedures for commercial airline customers and the OEM group manufactures complex, machined components used in commercial aerospace, military and space applications. The company, led by CEO Vin Misciagna, is headquartered in Southwick, MA and Fort Myers, FL (www.begroupllc.com).
As part of this transaction, Safe Fuel Systems has merged with the MRO group and the combined businesses will now operate under the SAFE Aviation Solutions name. The OEM group will continue to operate under the B&E name and the overall platform remains the B&E Group.
“We are highly impressed with the operations at Safe Fuel Systems and the culture that Ann and Rafael have developed over the last 16 years,” said Charlie Rossetti, Vice President at MPE. “We look forward to partnering with them as they continue to build upon their past successes.”
MPE invests in lower middle market companies that are valued from $25 million to $150 million and have EBITDAs between $5 million and $20 million. Sectors of interest include high-value manufacturing and industrial services. The firm has offices in Cleveland and Boston (www.mpepartners.com).
Twin Brook Capital Partners (www.twincp.com) provided senior debt financing to support the transaction. Corporate Finance Associates (www.cfaw.com) was the financial advisor to SFS.
© 2017 Private Equity Professional | August 15, 2017
