Littlejohn Capital has acquired 3P Processing, a provider of specialized surface finishing and metal processing services for the aerospace sector, from Spell Capital.
3P Processing is a specialized provider of surface finishing, testing, and metal processing services primarily for the aerospace and defense industries. Specific capabilities of 3P include chemical processing, masking, priming and topcoating, anodizing, non-destructive testing, and shot peening for components made from aluminum, titanium, and steel.
3P holds over 20 original equipment manufacturer (OEM) approvals from companies such as Boeing, Lockheed Martin, Raytheon Technologies, Sikorsky, Gulfstream, and Cessna. The company, led by CEO Terry Karst, was founded in 1974 and is headquartered in Wichita, Kansas.
“For over 50 years, 3P Processing’s comprehensive in-house metal finishing solutions have helped the aerospace industry streamline complex capabilities to reduce lead times while maintaining unparalleled quality,” said Mr. Karst. “We look forward to working with the Littlejohn team to implement the already identified multiple opportunities that will broaden market coverage and continue to grow the business.”
“Customers rely on 3P Processing for their difficult-to-accomplish processing challenges due to the company’s comprehensive list of approvals and certifications and focus on lead times,” said Angus C. Littlejohn III, the president of Littlejohn Capital. “3P boasts best-in-class quality metrics which has propelled it to a market leading position and embedded, long-term customer relationships.”
Littlejohn Capital, based in Savannah, Georgia, invests from $5 million to $15 million ($30 million including co-investment partners) in North American-based companies that are valued from $20 million to $75 million and have EBITDA between $2 million and $12.5 million. Sectors of interest include manufacturing, fabrication, processing, logistics, materials, and services.
Spell Capital acquired 3P through its fifth fund in March 2018. The firm makes equity and mezzanine investments in manufacturing, service, or distribution businesses with EBITDA of at least $5 million. Spell was founded in 1988 and is headquartered near Minneapolis in Edina, Minnesota.
KAL Capital, an aerospace and defense-focused investment bank, was the financial advisor to 3P Processing on this transaction.
© 2025 Private Equity Professional | April 25, 2025
