Consolidated Machine & Tool, a platform company of White Wolf Capital, has acquired Astro-Tek Industries, a manufacturer of aerospace parts and equipment.
Astro-Tek builds specialized equipment used by Tier 1 aerospace and defense companies to manufacture, maintain, and service aircraft, satellites, rockets, and missiles. Astro-Tek specializes in the manufacture of complicated products made of hard and soft metals that require in-house designing, laser cutting, machining, assembly, and testing. The company has 78 employees and operates from a 52,000 square foot manufacturing and headquarters facility in Anaheim, CA (www.astro-tek.io).
Consolidated Machine & Tool was formed by White Wolf in March 2017 as a special purpose entity to acquire US manufacturing businesses with revenues of $5 million to $25 million specializing in precision machining, fabrication, assembly, and design of highly engineered components for the aerospace and defense industries.
“We are excited to partner with the team at Astro-Tek. The transaction will provide access to additional capital and resources to support further growth,” said Elie Azar, Managing Director of White Wolf.
White Wolf makes investments in companies with $10 million to $100 million in revenues and up to $10 million in EBITDA. Industries of specific interest include manufacturing, business services, information technology, security, aerospace and defense. The firm was founded in 2011 and is based in New York (www.whitewolfcapital.com).
Xnergy (www.xnergyib.com), an aerospace, manufacturing, and industrials focused investment bank with offices in Los Angeles and San Diego, was the financial advisor to Astro-Tek. “It has been a pleasure to work with such a promising aerospace industrials company and through our relationships, successfully connect such a strong strategic capital partner as White Wolf,” said Bill Timmerman, Managing Director of Xnergy.
The buy of Astro-Tek by Consolidated Machine & Tool closed on June 30, 2017.
© 2017 Private Equity Professional | August 24, 2017
