Buyout (LBO, MBO, MBI) • Aerospace

P4G Capital Management, NewSpring Capital and Southfield Mezzanine Capital Acquire Aero Components

On June 6, 2017, private equity firm P4G Capital Management, private equity firm NewSpring Capital and mezzanine finance firm Southfield Mezzanine Capital acquired aerospace company Aero Components

Acquisition Context
  • This is P4G Capital Management’s 2nd, NewSpring Capital’s 4th and Southfield Mezzanine Capital’s 2nd transaction in the Aerospace sector.
  • This is P4G Capital Management’s 2nd, NewSpring Capital’s 113th and Southfield Mezzanine Capital’s 12th transaction in the United States.
  • This is P4G Capital Management’s 2nd, NewSpring Capital’s 4th and Southfield Mezzanine Capital’s 3rd transaction in Texas.

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M&A Deal Summary

Date June 6, 2017
Target Aero Components
Sector Aerospace
Buyer(s) P4G Capital Management
NewSpring Capital
Southfield Mezzanine Capital
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Aero Components

Fort Worth, Texas, United States
Aero Components, Inc. is a provider of certified ISO 9001, 2000 and AS9100 bonding, NADCAP coating/bonding, metal processing, and assembly for manufacturers in the aerospace and defense sector. Aero Components was founded in 1976 and is based in Fort Worth, Texas.
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Buyers Overview 3

DESCRIPTION

P4G Capital Management is a private equity group focused on acquiring lower middle-market family controlled companies. The Firm prefers opportunities in the Western US and generally seeks profitable companies with $20 to $150 million in revenue. Sectors of interest include business services, manufacturing, aerospace/defense, technology, healthcare, and energy services. P4G Capital Management was established in 2015 and is headquartered in San Francisco, California.


Deal Context for Buyer #
Overall 2 of 8
Sector: Aerospace 2 of 4
Type: Buyout (LBO, MBO, MBI) 2 of 6
State: Texas 2 of 2
Country: United States 2 of 8
Year: 2017 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Fore Aero

Haltom City, Texas, United States

Fore Aero is a provider of high precision machining as well as coating/bonding, metal processing, and assembly for manufacturers in the aerospace and defense sector. Fore Aero was founded in 1979 and is based in Haltom City, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-04 Unique Elevator Interiors

Alameda, California, United States

Unique Elevator Interiors is a manufacturer and installs custom elevator interiors for elevator OEMs, general contractors, building owners, and property managers. Unique Elevator Interiors was founded in 2001 and is based in Alameda, California.

Buy -
Buyer

NewSpring Capital

Radnor, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NewSpring Capital is a private investment firm focused on growth companies in the Mid-Atlantic US. The Firm can provide both growth equity and junior capital to prospective companies. NewSpring's target investment size for both mezzanine and equity financing is $2 to $5 million, although for new ventures, the Firm can commit up to $10 million. Sectors of interest include specialty manufacturing, technology, business services, information technology, life science, healthcare services, and medical devices. NewSpring Capital was formed in 1999 and is based in Radnor, Pennsylvania with an additional office in Short Hills, New Jersey.


Deal Context for Buyer #
Overall 114 of 201
Sector: Aerospace 4 of 5
Type: Buyout (LBO, MBO, MBI) 28 of 44
State: Texas 4 of 7
Country: United States 113 of 197
Year: 2017 5 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Fore Aero

Haltom City, Texas, United States

Fore Aero is a provider of high precision machining as well as coating/bonding, metal processing, and assembly for manufacturers in the aerospace and defense sector. Fore Aero was founded in 1979 and is based in Haltom City, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-20 Fox Rent-A-Car

Los Angeles, California, United States

Fox Rent-A-Car is a value-based car rental brand catering to airport travelers. Fox Rent A Car offers consumers great value, convenience and superior service at 19 major corporate owned airport locations across the US plus 110+ affiliate locations. Fox Rent-A-Car was founded in 1989 and is based in Los Angeles, California.

Buy -
DESCRIPTION

Southfield Mezzanine Capital is a mezzanine finance provider that looks to invest $5 to $20 million to support profitable ($3+ million of EBITDA) manufacturing, business services, and distribution companies across the US. Prospective transaction situation include acquisition financings, growth capital financings, and recapitalizations. Southfield Mezzanine Capital was formed in 2013 and is headquartered in Greenwich, Connecticut.


Deal Context for Buyer #
Overall 12 of 16
Sector: Aerospace 2 of 2
Type: Buyout (LBO, MBO, MBI) 5 of 6
State: Texas 3 of 3
Country: United States 12 of 16
Year: 2017 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-06 Fore Aero

Haltom City, Texas, United States

Fore Aero is a provider of high precision machining as well as coating/bonding, metal processing, and assembly for manufacturers in the aerospace and defense sector. Fore Aero was founded in 1979 and is based in Haltom City, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-12 inthinc Technology Solutions

Salt Lake City, Utah, United States

inthinc Technology Solutions is a provider of fleet management and driver safety solutions to a broad range of industrial enterprises. inthinc’s vehicle telematics solutions are focused on improving driver safety, operational efficiency, regulatory compliance and workforce optimization through the two-way integration of in-vehicle devices, smart mobile devices, web applications and data management services. inthinc Technology Solutions is based in Salt Lake City, Utah.

Sell -