Belcan, a portfolio company of AE Industrial Partners since June 2015, has acquired Allegiant International.
Allegiant International provides advisory and technical services to companies operating in the automotive, aerospace, defense, medical, and industrial supply sectors. Allegiant’s customers include some of the largest global OEMs and Tier 1 suppliers and in 2017 it received the General Motors “Supplier of the Year” award for the second consecutive year. Allegiant, led by its founder and CEO Nicole Grove, is headquartered in Indianapolis (www.allegiantworks.com).
Belcan is a provider of engineering, supply chain, technical recruiting, and IT services to companies that operate in the aerospace, defense, automotive, industrial, and government sectors. The company has more than 6,000 employees in 49 locations, including 26 engineering design centers and 23 TechServices locations. Belcan is headquartered in Cincinnati (www.belcan.com).
“Allegiant is known for its supply chain expertise, which makes it a highly strategic fit with Belcan’s existing manufacturing and supply chain services business,” said Lance Kwasniewski, Chief Executive Officer of Belcan. “Their attractive automotive industry customer base of blue chip OEMs and Tier 1 suppliers also strengthens Belcan’s position in this important segment. We look forward to working closely with the Allegiant management team to realize the tremendous opportunities ahead.”
“With seven acquisitions in less than 36 months, Belcan continues to demonstrate a commitment to build capabilities to serve its customer base in new and dynamic ways,” said David Rowe, Chairman of Belcan and Managing Partner of AEI.
AEI invests in the aerospace & defense, power generation and specialty industrial sectors with a specific focus on technical manufacturing, distribution and supply chain management, MRO (maintenance, repair and overhaul) and industrial service-based businesses. Typical company targets will have from $50 million to $500 million of revenue. The firm is headquartered in Boca Raton (www.aeroequity.com).
BKD Corporate Finance (www.bkd.com) was the financial advisor to Allegiant.
© 2018 Private Equity Professional | June 14, 2018
