M&A Deal Summary

Branford Castle Partners and Siguler Guff & Company Acquire Testek Solutions

On November 12, 2024, private equity firm Branford Castle Partners and asset manager Siguler Guff & Company acquired aerospace company Testek Solutions from CW Industrial Partners and Odyssey Investment Partners

Acquisition Highlights
  • This is Branford Castle Partners’ 1st and Siguler Guff & Company’s 1st transaction in the Aerospace sector.
  • This is Branford Castle Partners’ 20th and Siguler Guff & Company’s 9th transaction in the United States.
  • This is Branford Castle Partners’ 1st and Siguler Guff & Company’s 1st transaction in Michigan.

M&A Deal Summary

Date 2024-11-12
Target Testek Solutions
Sector Aerospace
Buyer(s) Branford Castle Partners
Siguler Guff & Company
Sellers(s) CW Industrial Partners
Odyssey Investment Partners
Deal Type Secondary Buyout

Target

Testek Solutions

Wixom, Michigan, United States
Testek Solutions designs, manufactures, and supports highly reliable aerospace and defense test equipment and testing facilities for OEMs, MROs, and operators. Testek Solutions was founded in 1969 and is based in Wixom, Michigan.

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Buyer(S) 2

Buyer

Branford Castle Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1986
PE ASSETS 200M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Branford Castle is a private investment firm that seeks investments in traditional companies with stable cash flows. Branford Castle prefers investing in 'old economy' businesses valued up to $100 million. Brandford will consider public or private companies, but the Firm will not invest in bankrupt, turnaround, or distressed situations. Sectors of interest include manufacturing, commercial distribution, services, consumer products, publishing, restaurants, and infrastructure. Branford Castle was formed in 1986 and is based in New York, New York.


DEAL STATS #
Overall 21 of 22
Sector: Aerospace M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 7
State: Michigan M&A 1 of 1
Country: United States M&A 20 of 21
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-23 Hoffman Engineering

Stamford, Connecticut, United States

Hoffman Engineering provides proprietary situational awareness solutions for mission-critical aerospace and defense applications. Hoffman Engineering was founded in 1955 and is based in Stamford, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-10 Eastern Dental

Avenel, New Jersey, United States

Eastern Dental is a dental support organization that provides support services to Eastern Dental clinical offices operating across the state of New Jersey. Eastern Dental provides comprehensive general, specialty and cosmetic dental services that meet all dental care needs. Eastern Dental was founded in 1978 and is based in Avenel, New Jersey.

Buy -
Buyer

Siguler Guff & Company

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1991
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Siguler Guff & Company is a multi-strategy investment manager that provides institutional clients with access to a variety of investment programs including distressed, real estate, small business, emerging markets, and other strategies. Siguler's small business group looks to acquire or investment in US-based, lower middle-market companies in a variety of industries with $5 to $25 million of EBITDA. Siguler Guff & Company was established in 1991 as a unit of Pain Webber and became independent in 1995. The Firm is based in New York City.


DEAL STATS #
Overall 9 of 10
Sector: Aerospace M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 2
State: Michigan M&A 1 of 1
Country: United States M&A 9 of 10
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-03 Earthlite

Vista, California, United States

Earthlite manufactures massage equipment including, stationary and electric lift massage tables, massage chairs, massage accessories, and massage therapy supplies. It has a wide selection of products for various massage therapy needs. Earthlite was founded in 1987 and is based in Vista, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-10 Eastern Dental

Avenel, New Jersey, United States

Eastern Dental is a dental support organization that provides support services to Eastern Dental clinical offices operating across the state of New Jersey. Eastern Dental provides comprehensive general, specialty and cosmetic dental services that meet all dental care needs. Eastern Dental was founded in 1978 and is based in Avenel, New Jersey.

Buy -

Seller(S) 2

SELLER

CW Industrial Partners

Cleveland, Ohio, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

CW Industrial Partners is an industrial-focused private equity firm that is backed by knowledgeable investors who partner with it in finding, vetting, and owning companies. CW Industrial Partners acquires lower middle-market companies in manufacturing and industrial services industries and provides capital, support, and freedom to grow. CW Industrial Partners was founded in 1999 and is based in Cleveland, Ohio.


DEAL STATS #
Overall 18 of 18
Sector: Aerospace M&A 2 of 2
Type: Secondary Buyout M&A Deals 5 of 5
State: Michigan M&A 1 of 1
Country: United States M&A 16 of 16
Year: 2024 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-12 Mantaline

Mantua, Ohio, United States

Mantaline is a manufacturer of customized, extruded elastomeric profiles for the automotive, heavy truck, and industrial markets. Mantaline was formed in 1964 and is based in Mantua, Ohio.

Buy -
SELLER

Odyssey Investment Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 8.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Odyssey Investment Partners is a private equity firm that seeks control/majority investments in middle-market companies. Odyssey looks to back existing management and make investments in the form of leveraged acquisitions, growth financings and recapitalizations. Sectors of interest include industrial manufacturing, business and financial services, aerospace products and services, and 'route-based services'. Odyssey Investment Partners is based in New York, New York.


DEAL STATS #
Overall 35 of 38
Sector: Aerospace M&A 4 of 4
Type: Secondary Buyout M&A Deals 19 of 20
State: Michigan M&A 1 of 1
Country: United States M&A 33 of 36
Year: 2024 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-01 Aramsco

Paulsboro, New Jersey, United States

Aramsco is a distributor of products, equipment, and services to specialty contractors in North America. The Company carries more than 30,000 different products ranging from personal protective equipment to specialty chemicals and equipment. Aramsco complements this product offering with a suite of value-added services such as equipment repair, rental, and training. Aramsco was founded in 1966 and is based in Paulsboro, New Jersey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-18 NSI Industries

Huntersville, North Carolina, United States

NSI Industries is a provider of a wide variety of electrical connectors including insulated connectors and mechanical, digital time controls, time switches, wire management products, and related electrical components for construction, maintenance, and repair applications. NSI Industries was established in 1975 and is based in Huntersville, North Carolina.

Sell -