Investment Summary

Azini Capital Partners Exits Keronite

On November 16, 2022, Curtiss-Wright invested in manufacturer Keronite from Azini Capital Partners for 35M USD

Investment Highlights
  • This is Curtiss-Wright’s 7th transaction in the Manufacturing sector.
  • This is Curtiss-Wright’s 24th largest (disclosed) transaction.
  • This is Curtiss-Wright’s 10th transaction in the United Kingdom.

Investment Summary

Date 2022-11-16
Target Keronite
Sector Manufacturing
Investor(s) Curtiss-Wright
Sellers(s) Azini Capital Partners
Deal Type Add-on Acquisition
Deal Value 35M USD

Target

Keronite

Haverhill, United Kingdom
Keronite is a provider of Plasma Electrolytic Oxidation (PEO) surface treatment applications offering corrosion protection, wear resistance, thermal protection and electrical insulation for the defense, commercial aerospace and industrial vehicle markets, and also in semiconductor manufacturing. Keronite was founded in 2000 and is based in Haverhill, United Kingdom.

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Investor(S) 1

Investor

Curtiss-Wright

Davidson, North Carolina, United States

Category Company
Founded 1929
Sector Diversified
Employees8,600
Revenue 3.1B USD (2024)
DESCRIPTION

Curtiss-Wright is a global company that delivers engineered, critical-function products and services to the commercial, defense, energy, and industrial markets. The company operates through three segments: Commercial/Industrial, Defense, and Energy. The Commercial segment offers products/services that include surface technology services such as shot peening, laser peening, coatings, and advanced surface analytics; industrial products such as electronic throttle control devices and transmission shifters; electro-mechanical actuation control components, and utility systems used on aircraft. The Defense segment produces embedded computing board-level modules, integrated subsystems, turret aiming and stabilization products, and weapons handling systems. The Energy segment produces a wide range of hardware, pumps, valves, pressure vessels, fastening systems, specialized containment doors, airlock hatches, spent fuel management products, and fluid sealing technologies for nuclear power plants and nuclear equipment manufacturers. Curtiss-Wright was founded in 1929 and is based in Davidson, North Carolina.


DEAL STATS #
Overall 58 of 60
Sector: Manufacturing M&A 7 of 7
Type: Add-on Acquisition M&A Deals 40 of 42
Country: United Kingdom M&A 10 of 11
Year: 2022 M&A 2 of 2
Size (of disclosed) 24 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-21 Safran Aerosystems Arresting

Paris, France

Safran Aerosystems Arresting is a designer and manufacturer of aircraft emergency arresting systems with more than 5,000 systems worldwide and currently sells into more than 70 countries. Safran Aerosystems Arresting is based in Paris, France.

Buy $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 WSC

Frederick, Maryland, United States

WSC is a provider of state-of-the-art simulation technology that supports the design, commissioning, and reliable operation of commercial nuclear power generation and process plants worldwide with an installed base of over 225 plant simulators. WSC was founded in 1995 and is based in Frederick, Maryland.

Buy $34M

Seller(S) 1

DESCRIPTION

Azini Capital Partners LLP is a private investment group focused acquiring secondary interests in growth-oriented companies. The Firm looks to acquire minority positions (> 15%) in companies with at least $10 million in revenue. The Firm prefers acquiring interests in tech-oriented or tech-enabled companies. Azini Capital was established in 2004 and is based in London.


DEAL STATS #
Overall 21 of 21
Sector: Manufacturing M&A 1 of 1
Type: Add-on Acquisition M&A Deals 18 of 18
Country: United Kingdom M&A 11 of 11
Year: 2022 M&A 3 of 3
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-29 Attraqt Group

London, United Kingdom

Attraqt provides visual merchandising and searches services to online retailers through a cloud-based Software as a Service (SaaS) platform. The company was created to help retailers replicate traditional merchandising techniques online and now powers the merchandising functions of over 100 of the world's leading retailers including Superdry and boohoo.com. Attraqt Group was incorporated in 2000 and is headquartered in London, United Kingdom.

Sell -