M&A Deal Summary

Cornerstone Capital Holdings Acquires Walbar Engine Components

On September 9, 2016, private equity firm Cornerstone Capital Holdings acquired aerospace company Walbar Engine Components from UTC Aerospace Systems

Acquisition Highlights
  • This is Cornerstone Capital Holdings’ 3rd transaction in the Aerospace sector.
  • This is Cornerstone Capital Holdings’ 8th transaction in the United States.
  • This is Cornerstone Capital Holdings’ 1st transaction in Arizona.

M&A Deal Summary

Date 2016-09-09
Target Walbar Engine Components
Sector Aerospace
Buyer(s) Cornerstone Capital Holdings
Sellers(s) UTC Aerospace Systems
Deal Type Divestiture

Target

Walbar Engine Components

Chandler, Arizona, United States
Walbar Engine Components produces turbine engine blades, vanes, segments, and machined structures for commercial and military aircraft engines. Walbar Engine Components also makes locomotive diesel engine core and turbo compressor assemblies. Walbar Engine Components was founded in 1951 and is based in Chandler, Arizona.

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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 9 of 13
Sector (Aerospace) 3 of 4
Type (Divestiture) 2 of 5
State (Arizona) 1 of 1
Country (United States) 8 of 12
Year (2016) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-01 IR Engraving

Sandston, Virginia, United States

IR Engraving is a manufacturer of engraving industrial rolls and plates, gravure rolls, and building custom machinery in support of various industries including consumer goods, luxury vinyl tile, building products, and other industrial applications. IR Engraving is based in Sandston, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 Mechtronic Solutions

Albuquerque, New Mexico, United States

Mechtronic Solutions offers automated test equipment and select flight systems, servicing clients in the aerospace and defense industries. Mechtronic Solutions is based in Albuquerque, New Mexico.

Sell -

Seller(S) 1

SELLER

UTC Aerospace Systems

Charlotte, North Carolina, United States

Category Company
Founded 1918
Sector Aerospace
DESCRIPTION
Entrance to a UTC Aerospace Systems facility in Danbury, Connecticut.
Entrance to a UTC Aerospace Systems facility in Danbury, Connecticut.

UTC Aerospace Systems is a supplier of technologically advanced aerospace and defense products. UTC Aerospace designs, manufactures and services systems and components and provide integrated solutions for commercial, regional, business and military aircraft, helicopters and other platforms.


DEAL STATS #
Overall 1 of 3
Sector (Aerospace) 1 of 2
Type (Divestiture) 1 of 3
State (Arizona) 1 of 1
Country (United States) 1 of 3
Year (2016) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-02 N2 Imaging Systems

Irvine, California, United States

N2 Imaging Systems is a designer and manufacturer of compact, low-power, visible, and infrared imaging systems (near-infrared to thermal) used for soldier vision enhancement, surveillance, or threat detection and targeting conducted during the day, night, or under low visibility conditions. N2 Imaging Systems was founded in 2007 and is based in Irvine, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-23 UTC Aerospace Systems - In-Flight Entertainment business

United States

UTC Aerospace Systems - In-Flight Entertainment (IFE) business is a commercial airlines business providing trust, reliability, quality, and performance.

Sell -