Greenbriar Equity has completed its previously announced acquisition of EDAC Technologies Corporation, a designer, manufacturer and servicer of precision components for aerospace and industrial applications, for approximately $104 million.
EDAC Technologies Corporation (NASDAQ: EDAC) is a diversified manufacturing company serving the aerospace and industrial markets. In the aerospace sector, EDAC offers design and manufacturing services for commercial and military aircraft, in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines. Industrial applications include high-precision fixtures, gauges, dies and molds, as well as the design, manufacture and repair of precision grinders and precision spindles. The company is based in Farmington, CT (www.edactechnologies.com).
Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in aerospace and defense, automotive, freight and passenger transport, logistics and distribution, and related sectors. The firm manages $1.5 billion of committed capital and is based in Rye, NY (www.greenbriarequity.com).
Stifel, Nicolaus & Company served as the exclusive financial advisor to EDAC Technologies.
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-8-13
