M&A Deal Summary

GKN Aerospace Acquires ASTECH Engineered Products

On May 9, 2002, GKN Aerospace acquired distribution company ASTECH Engineered Products from Wedbush Capital Partners

Acquisition Highlights
  • This is GKN Aerospace’s 1st transaction in the Distribution sector.
  • This is GKN Aerospace’s 1st transaction in the United States.
  • This is GKN Aerospace’s 1st transaction in California.

M&A Deal Summary

Date 2002-05-09
Target ASTECH Engineered Products
Sector Distribution
Buyer(s) GKN Aerospace
Sellers(s) Wedbush Capital Partners
Deal Type Add-on Acquisition

Target

ASTECH Engineered Products

Santa Ana, California, United States
ASTECH Engineered Products, Inc. is a supplier of lightweight, high-strength, heat-resistant and noise-suppression structures for commercial and military aircraft, space vehicles, missiles, and other applications.

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Buyer(S) 1

Buyer

GKN Aerospace

Redditch, United Kingdom

Category Company
Founded 1939
Sector Aerospace
DESCRIPTION
GKN Aerospace location in St. Louis, Missouri.
GKN Aerospace location in St. Louis, Missouri.

GKN Aerospace is the aerospace operation of GKN plc, serving a global customer base and operating in North and South America, Australia, the Asia Pacific and Europe. The business is focused around three major product areas – aerostructures, propulsion systems and transparencies, plus a number of specialist products – elector-thermal ice protection, fuel and flotation systems, and bullet resistant glass. The business is equally split along military and civil lines with significant participation on all major aircraft programs today. GKN Aerospace is a major supplier of complex composite structures; offers one of the most comprehensive capabilities in high performance metallic processing and is the world leading supplier of cockpit transparencies and passenger cabin windows.


DEAL STATS #
Overall 2 of 2
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (California) 1 of 1
Country (United States) 1 of 1
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-01-01 Aerospace Composite Technologies

Luton, United Kingdom

Aerospace Composite Technologies was formed to acquire the Engineering & Heating Systems Business of Lucas Aerospace a division of Lucas Industries. The business produces three distinct product ranges: aircraft transparencies, ice protection equipment and electro luminescent lighting.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 GKN Aerospace Engineering Services

Redditch, United Kingdom

GKN Aerospace Engineering Services has provided skilled, stand-alone engineering support on aerospace and marine projects across military and civil sectors. Customers, including major companies such as AgustaWestland, Airbus, Boeing, BAE Systems, Lockheed Martin, Northrop Grumman, Rolls-Royce and Sikorsky, as well as GKN Aerospace, have been assisted with maximizing performance in areas such as product development, manufacturing efficiency and life cycle support.

Sell -

Seller(S) 1

SELLER

Wedbush Capital Partners

Los Angeles, California, United States

Investor Investor


Category Private Equity Firm
PE ASSETS 120M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Wedbush Capital Partners is a private equity firm focused on recapitalizations, growth investments in, and management buyouts of lower middle-market companies generating sales of $10 to $50 million. Sectors of interest include consumer products and services, business and financial services, and niche manufacturing. Wedbush prefers to make initial equity investments of $2 to $10 million in companies valued between $5 and $50 million. The Firm prefers opportunities in the Western US. Wedbush Capital Partners is affiliated with investment bank Wedbush Securities. The Firm is based in Los Angeles, California.


DEAL STATS #
Overall 2 of 9
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (California) 2 of 7
Country (United States) 2 of 9
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1993-08-30 Acurex

Anaheim, California, United States

Acurex Corp. is a manufacturer of aircraft galley refrigeration systems.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-11-13 Outsource Partners International

Los Angeles, California, United States

Outsource Partners International (OPI) is a professional services firm dedicated to the outsourcing of finance & accounting business processes, analytics, and related consulting and advisory services.

Buy -