M&A Deal Summary

Cornerstone Capital Holdings Acquires Intec

On July 1, 2021, private equity firm Cornerstone Capital Holdings acquired aerospace company Intec from LMI Aerospace

Acquisition Highlights
  • This is Cornerstone Capital Holdings’ 4th transaction in the Aerospace sector.
  • This is Cornerstone Capital Holdings’ 12th transaction in the United States.
  • This is Cornerstone Capital Holdings’ 1st transaction in Washington.

M&A Deal Summary

Date 2021-07-01
Target Intec
Sector Aerospace
Buyer(s) Cornerstone Capital Holdings
Sellers(s) LMI Aerospace
Deal Type Divestiture

Target

Intec

Everett, Washington, United States
Intec is a provider of advanced materials testing, manufacturing, and design services to the aerospace, defense and transportation industries. Intec's primary business is designed to support composite testing, manufacturing and research, by analyzing new and existing materials including organic matrix composites, ceramics, metal matrix composites and metal. Intec was founded in 1989 and is based in Everett, Washington.

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Buyer(S) 1

Buyer

Cornerstone Capital Holdings

Fort Worth, Texas, United States

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

Cornerstone Capital Holdings LLC is a private equity firm that seeks investments in manufacturing and industrial service companies generating sales of $5 - $100 million with an EBITDA of $1 - $10 million. The Firm generally looks to acquire privately held businesses or divisions of larger private or public companies. Specific sectors of interest include packaging-related products, specialty machinery, defense/aerospace products, specialty chemicals, rubbers, synthetics, electrical components and assemblies, niche branded products, automobile component manufacturers, general industrial business-to-business products, specialty catalog, niche distribution, and MRO providers. Cornerstone avoids investing in consulting, restaurants, construction, biotech, retail, and real estate. Cornerstone was formed in 2000 and has offices in Fort Worth, Texas and Blue Bell, Pennsylvania.


DEAL STATS #
Overall 13 of 13
Sector (Aerospace) 4 of 4
Type (Divestiture) 5 of 5
State (Washington) 1 of 1
Country (United States) 12 of 12
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 RSA Engineered Products

Simi Valley, California, United States

RSA Engineered Products LLC designs and manufactures a broad array of highly-engineered airflow control systems for use in commercial and military aircraft. RSA Engineered Products LLC’s primary products include ducting, anti-icing and ozone products. The majority of RSA’s sales are comprised of proprietary part numbers exclusive to the Company. RSA sells to a broad customer base that spans a high number of both legacy and new aircraft platforms.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 NuSpace

Long Beach, California, United States

NuSpace is a designer and manufacturer of satellite propellant tanks, domes, and ancillary space products. NuSpace also refurbishes the AWACS rotodome bearing assembly exclusively for the U.S. Air Force and NATO. NuSpace was founded in 1907 and is based in Long Beach, California.

Sell -

Seller(S) 1

SELLER

LMI Aerospace

St. Charles, Missouri, United States

Category Company
Founded 1948
Sector Aerospace
Employees1,945
Revenue 375M USD (2015)
DESCRIPTION

LMI Aerospace, Inc. is a provider of design engineering services and supplier of structural assemblies, kits and components to the aerospace, defense and technology markets.


DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-26 Valent Aerostructures

Kansas City, Missouri, United States

Valent Aerosturctures has offices, manufacturing plants and assembly facilities that are primarily located across the central United States – strategically positioned for convenient access by our customers and for more efficient shipping and receiving of materials and supplies. The locations are also within close proximity to one another, making it easier to manage and coordinate inter-location assembly projects.

Buy $237M