M&A Deal Summary

Avem Partners and True West Capital Partners Acquire Astech

On June 5, 2023, private equity firms Avem Partners and True West Capital Partners acquired aerospace company Astech

Acquisition Highlights
  • This is Avem Partners’ 2nd and True West Capital Partners’ 2nd transaction in the Aerospace sector.
  • This is Avem Partners’ 2nd and True West Capital Partners’ 17th transaction in the United States.
  • This is Avem Partners’ 2nd and True West Capital Partners’ 7th transaction in California.

M&A Deal Summary

Date 2023-06-05
Target Astech
Sector Aerospace
Buyer(s) Avem Partners
True West Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Astech

Santa Ana, California, United States
Astech is a provider of welded honeycomb metallic aerostructures to the global aerospace and defense industry. The company designs and manufactures an innovative product line of welded honeycomb metallic aerostructures for commercial and military aircraft, missiles, and space vehicles. Astech has a strong track record of helping customers achieve their goals of creating value and competitive advantage. Astech was founded in 1947 and is based in Santa Ana, California.

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Buyer(S) 2

DESCRIPTION

Avem Partners is a private equity firm focused on investing in opportunities throughout the aerospace industry. The Firm looks to commit $10 to $50 million of capital to support mid-sized, founder-owned companies with $15 to $200 million of revenue and at least $3 million of EBITDA. Avem Partners was established in 2017 and is headquartered in Manhattan Beach, California.


DEAL STATS #
Overall 2 of 3
Sector: Aerospace M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: California M&A 2 of 3
Country: United States M&A 2 of 3
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Future Tech Metals

Riverside, California, United States

Future Tech Metals is a supplier of roughing and finishing services for aerospace forging manufacturers and specializes in working with hard, exotic alloys. Future Tech Metals was founded in 1998 and is based in Riverside, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-15 FMI Aerostructures

Valencia, California, United States

FMI Aerostructures is a manufacturer of critical structural components and assemblies for the aerospace and defense industry. With 230,000 square feet under roof and over 130 active spindles, FMI Aerostructures is one of the largest independent A&D manufacturing businesses in North America. FMI Aerostructures was founded in 1978 and is based in Valencia, California.

Buy -
DESCRIPTION

True West Capital Partners is a private investment firm focused on lower middle-market company investments in the Western US. The Firm looks to commit $5 to $25 million into profitable businesses to support acquisitions, growth initiatives, buyouts, recapitalizations, and refinancings. True West does not have any sector preferences, but does avoid real estate, startups and project financings. True West Capital Partners was formed in 2009 and is headquartered in Los Angeles, California.


DEAL STATS #
Overall 17 of 22
Sector: Aerospace M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 6
State: California M&A 7 of 7
Country: United States M&A 17 of 22
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Statewide Construction Sweeping

Fremont, California, United States

Statewide Construction Sweeping is a construction sweeper in Northern California and provides regulatory required sweeping services for General Contractors (GCs) mainly involved in highway and road improvement projects. Statewide Construction Sweeping was founded in 1985 and is based in Fremont, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-12 Marine Floats

Tacoma, Washington, United States

Marine Floats is a specialty marine contractor providing environmental and regulatory advisory services, marina and floating dock design, construction and installation services, for commercial and residential customers in the Pacific Northwest. Marine Floats was founded in 1976 and is based in Tacoma, Washington.

Buy -