Greenbriar Equity Group has acquired The Whitcraft Group, a maker of aerospace components, from Linsalata Capital Partners which first invested in the company in December 2010.
The Whitcraft Group is a manufacturer of precision formed, machined, and fabricated flight-critical aerospace components. The company’s products include air seals, bracket assemblies, heatshields, retaining rings, inlet covers, rolled ring air seals, snap rings, flanges, tail cones, transition ducts, manifold assemblies and other products. Whitcraft’s blue-chip customer base includes every major aero-engine OEM and Tier I supplier, with content on over 100 turbine engines and platforms. The company is a manufacturing partner with Pratt & Whitney, GE Aviation, Honeywell, UTC Aerospace Systems, Sikorsky, Rolls-Royce, and the US Government. Whitcraft was founded in 1960 and is based in Eastford, CT (www.whitcraftgroup.com).
“We are proud to partner with Whitcraft to help continue their long-term track record of growth. Whitcraft’s differentiated capabilities and superb management team provide a unique platform for continued growth in the aerospace engine market,” said Noah Roy, a Managing Partner at Greenbriar.
Greenbriar Equity Group invests from $50 million to $150 million per transaction in the global transportation industry, including companies in aerospace & defense, automotive, freight & passenger transport, logistics & distribution, and related sectors. The firm manages $2.5 billion of committed capital and is based in Rye, NY (www.greenbriarequity.com).
“Greenbriar is an experienced investor in aerospace whose partnership and support will enhance Whitcraft’s ability to execute on the opportunity created by the unprecedented growth currently taking place in our industry,” said Colin Cooper, Whitcraft’s CEO.
Linsalata Capital Partners, the seller of Whitcraft, invests from $10 million to $50 million of equity in middle market companies that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. The firm was founded in 1984 and is based near Cleveland in Mayfield Heights, OH (www.linsalatacapital.com).
© 2017 Private Equity Professional | April 5, 2017
