M&A Deal Summary

ATL Partners and British Columbia Investment Management Acquire Valence Surface Technologies

On July 8, 2019, private equity firm ATL Partners and asset manager British Columbia Investment Management acquired aerospace company Valence Surface Technologies from Trive Capital

Acquisition Highlights
  • This is ATL Partners’ 1st and British Columbia Investment Management’s 1st transaction in the Aerospace sector.
  • This is ATL Partners’ 4th and British Columbia Investment Management’s 4th transaction in the United States.
  • This is ATL Partners’ 1st and British Columbia Investment Management’s 1st transaction in California.

M&A Deal Summary

Date 2019-07-08
Target Valence Surface Technologies
Sector Aerospace
Buyer(s) ATL Partners
British Columbia Investment Management
Sellers(s) Trive Capital
Deal Type Secondary Buyout
Advisor(s) Lazard Ltd. (Financial)

Target

Valence Surface Technologies

El Segundo, California, United States
Valence Surface Technologies. is a provider of aerospace surface finishing services, which has historically been a highly fragmented, geographically focused, and technically challenging part of the supply chain. The company was built to offer a differentiated, full-service, supply chain solution for critical, complex parts to the aerospace industry, delivering the lead times, capacity, and technical resources needed to match growing aircraft build rate demand. Valence Surface Technologies was founded in 1957 and is based in El Segundo, California.

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Buyer(S) 2

DESCRIPTION

ATL Partners is a private investment firm focused on private equity and debt investments in the aerospace, transportation, and logistics sectors. ATL's minimum investment size is $75 million, however the Firm has the ability to invest up to $750 million with its co-investment partners. ATL Partners was formed in 2014 and is based in New York City.


DEAL STATS #
Overall 4 of 7
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 2 of 2
State (California) 1 of 1
Country (United States) 4 of 7
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 Global Critical Logistics

Lititz, Pennsylvania, United States

Global Critical Logistics is a provider of freight forwarding and logistics to the music touring, fine arts, sports & live events, film & TV production, corporate events, and industrial projects end markets through its family of affiliated brands including Rock-it Global, Dietl, Cosdel, CargoLive, and Dynamic International. Through its offices in the US, UK, Australia, Belgium, Brazil, Chile, China, Colombia, Germany, Japan, Mexico, Netherlands, and Peru, augmented by a network of foreign agents specializing in live events, GCL serves thousands of customers per year with specialized freight solutions on all seven continents. Global Critical Logistics was founded in 1978 and is based in Lititz, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-01 LightRidge Solutions

Tucson, Arizona, United States

LightRidge Solutions is a provider of small and medium, low-cost payloads for space domain awareness, intelligence, surveillance and reconnaissance, missile warning, and laser communication applications. LightRidge Solutions was founded in 2004 and is based in Tucson, Arizona.

Buy -
Buyer
DESCRIPTION

British Columbia Investment Management Corp. (BCI) is large asset manager focused on providing investment management services to British Columbia’s public sector. The Firm looks to invest in a range of asset categories and will consider opportunities globally. BCI's private equity practice was established in 1995 and seeks leverage buyout and growth equity opportunities that include market leading companies with tangible downside protection. Portfolio companies have a sustainable competitive advantage, offer value-added products and services, and are led by talented management teams. British Columbia Investment Management Corp. is headquartered in Victoria, British Columbia.


DEAL STATS #
Overall 10 of 19
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 5 of 9
State (California) 1 of 1
Country (United States) 4 of 7
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-05 BMS Group

London, United Kingdom

BMS Group is an independent and employee-owned, specialist (re)insurance broking group which provides clients with local service and global solutions. BMS Group was founded in 1980 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-28 Waterlogic

Berkshire, United Kingdom

Waterlogic is a designer, manufacturer, distributor and operator of mains attached point-of-use ("POU") drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants, and other workplaces. Waterlogic was established in 1992 and is based in Berkshire, United Kingdom.

Buy -

Seller(S) 1

SELLER

Trive Capital

Dallas, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2012
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Trive Capital is a hands-on, operationally-focused private equity firm that targets complex or special situations in 'out of favor' but protected market niches. The Firm will consider businesses throughout North America offering differentiated products/services with leading/defensible industry positions. Trive looks to commit $10 to $300 million per investment in businesses generating revenues of $40 million to $1.5 billion. Sectors of interest include automotive, transportation, aerospace/defense, building products, construction, infrastructure, healthcare, manufacturing, industrial, chemicals, distribution, consumer goods, energy services, business services, and communications. Trive Capital was founded in 2012 and is based in Dallas, Texas.


DEAL STATS #
Overall 7 of 17
Sector (Aerospace) 1 of 3
Type (Secondary Buyout) 2 of 5
State (California) 2 of 3
Country (United States) 7 of 16
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-17 Cadient Talent

Morrisville, North Carolina, United States

Cadient Talent provides applicant tracking and assessment products, delivered via a software-as-a-service model, to customers throughout the United States and Canada. Cadient offers one unified recruiting platform for salaried and hourly positions and is a leader in solving the complexities of high-volume, hourly hiring. The solution provides distributed managers with a constant pipeline of high-quality candidates for their workforce. Cadient Talent is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-22 Precise Packaging

Fall River, Massachusetts, United States

Precise Packaging, Inc. manufacturer of small-format aerosol and liquid products for the personal care, home fragrance and over-the-counter end markets. Precise Packaging was founded in 1988 and is based in Fall River, Massachusetts.

Sell -