Morgenthaler Acquires B&E Group
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Morgenthaler Acquires B&E Group

B and E nf1Morgenthaler Private Equity (MPE) has acquired the B&E Group, a manufacturer and service provider to the commercial, defense, and aerospace industries.

MPE partnered on this transaction with B&E Group’s existing shareholders and senior management team, including CEO John Wilander and COO Paul Tobias, both of whom will serve as members of the company’s Board of Directors.

b and e nf57B&E Group is a manufacturer of machined components used by OEMs in the commercial aerospace, military and space industries, and is also a provider of maintenance, repair and overhaul services for commercial aerospace engine components. The company is headquartered in Southwick, MA and Fort Myers, FL (www.bandepac.com) (www.bandeacr.com).

peter taft nf1“We are very impressed with B&E Group’s engineering expertise and capabilities to machine exotic materials to tight tolerances. We also appreciate the company’s technical service and repair capabilities.  B&E Group fits squarely within MPE’s focus on entrepreneur-owned, high value manufacturing companies,” said Peter Taft, a Partner at MPE.

MPE invests in companies in the lower middle market that have transaction values up to $150 million and EBITDAs between $5 million and $20 million.  Sectors of interest include high-value manufacturing and proprietary business services. The firm has $3 billion of capital under management and has offices in Cleveland and Boston (www.morgenthaler.com).

Charlie Rossetti nf1“In addition to a number of organic growth opportunities, B&E Group will seek complementary add-on acquisitions for each of its operating divisions,” said Charlie Rossetti, a Vice President at MPE.

Twin Brook Capital Partners – the middle market direct lending subsidiary of Angelo, Gordon & Co. –  provided financing to support the transaction (Twin Brook website).

“MPE’s experience with highly engineered components, relevant industry knowledge and ability to work with entrepreneur-owned companies make them an ideal partner for B&E Group,” said Mr. Wilander.

© 2015 PEPD • Private Equity’s Leading News Magazine • 11-19-15

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