Stellex Capital Management has acquired RTC Aerospace, a manufacturer of machined components for aerospace and defense applications.
RTC (formerly Roberts Tool Company) manufactures complex components – including hydraulic housings, landing gear components, aerostructures and missile assemblies – used in both commercial and military aircraft, and other aerospace and defense projects. Chatsworth, California-based RTC serves original equipment manufacturer (OEM) and Tier 1 suppliers from its manufacturing facilities in California and Washington.
Brad Hart, an investor in RTC and its former CEO, will remain as an investor in partnership with Stellex and will become a member of the company’s board of directors.
“I’m thrilled to partner with Stellex as it leverages the strong platform we’ve built at RTC as we are striving to deploy an acquisition-focused growth strategy. We’ve carefully built a strong culture of collaboration with customers and a focus on delivery and quality excellence, and we believe the company is ready to grow to the next level,” said Mr. Hart. “We plan to create value for RTC’s customers and employees and to become an even more valuable manufacturing partner.”
New York City-based Stellex invests from $50 million to $150 million in United States or Europe-based companies with enterprise values from $50 million to $500 million and revenues greater than $100 million. Sectors of interest include manufacturing and service businesses within the automotive, aerospace, building products, consumer, defense, food, general industrial, and transportation industries.
“RTC is a critical partner to its customers, meeting the stringent quality and delivery requirements of premier military and commercial programs,” said David Waxman, a managing director at Stellex. “We are excited to provide our capital and resources to support RTC’s contemplated organic and strategic M&A-focused expansion plan. Our goal is to materially expand RTC’s market presence and continue being a trusted, industry-leading partner on blue-chip military and commercial platforms.”
Greenberg Traurig provided legal support to Stellex on this transaction and Arena Strategic Advisors conducted commercial due diligence for Stellex.
© 2022 Private Equity Professional | April 5, 2022
