M&A Deal Summary

GE Capital Aviation Services Acquires Milestone Aviation Group

On January 30, 2015, GE Capital Aviation Services acquired aerospace company Milestone Aviation Group from Nautic Partners and TJC for 1.8B USD

Acquisition Highlights
  • This is GE Capital Aviation Services’ 1st transaction in the Aerospace sector.
  • This is GE Capital Aviation Services’ largest (disclosed) transaction.
  • This is GE Capital Aviation Services’ 1st transaction in the United States.
  • This is GE Capital Aviation Services’ 1st transaction in Ohio.

M&A Deal Summary
Date 2015-01-30
Target Milestone Aviation Group
Sector Aerospace
Buyer(s) GE Capital Aviation Services
Sellers(s) Nautic Partners
TJC
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) BofA Securities (Financial)
Mayer Brown
Clifford Chance (Legal)

Target

Milestone Aviation Group

Columbus, Ohio, United States
Milestone Aviation Group Limited ("Milestone") is the first global aircraft leasing company exclusively focused on helicopters and private jets. Headquartered in Dublin, Ireland, Milestone will be led by Rich Santulli, founder of NetJets and RTS Helicopters. Milestone provides aircraft owners and operators worldwide with personalized financing options not otherwise available.

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Buyer(S) 1

Buyer

GE Capital Aviation Services

Shannon, Ireland
Category Company
Sector Aerospace
DESCRIPTION

GE Capital Aviation Services (GECAS) is an aviation lessor and financier that has partnered with customers to find solutions to their challenges and helped their businesses to thrive. GECAS offers a broad array of financing products and services on these assets including operating leases, purchase/leasebacks, capital markets, and airframe parts management. GECAS owns, services, or has on order approximately 1,700 aircraft. GECAS serves over 200 customers in ~75 countries from a network of 15 offices around the world.

DEAL STATS #
Overall 1 of 1
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Nautic Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1986
PE ASSETS 9.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Nautic Partners is a private equity firm focused on middle-market company investments based in the US. Nautic looks to invest $50 to $400 million of equity in businesses valued between $100 million and $1 billion. Nautic's industry focus is business services, manufacturing, healthcare, and communications. Prospective investment structures include buyouts, recapitalizations, consolidations, and growth financings. Nautic prefers majority investment positions. Nautic Partners was formed in 1986 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 29 of 47
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 11 of 18
State (Ohio) 3 of 3
Country (United States) 29 of 46
Year (2015) 1 of 5
Size (of disclosed) 1 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Odyssey Behavioral Healthcare

Brentwood, Tennessee, United States

Odyssey Behavioral Healthcare is a provider of behavioral health facilities across the treatment spectrum in psychiatric and addiction care. Odyssey Behavioral Healthcare was founded in 2015 and is based in Brentwood, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-09 IPS

Compton, California, United States

IPS is a manufacturer of a wide range of adhesive cement, structural adhesives, and niche plumbing products primarily for residential, commercial, industrial, and international markets. IPS' products are sold under a number of highly regarded brand names, including Weld-On, Watertite, Studor, Truebro, and Guy Gray. IPS was founded in 1954 and is based in Compton, California.

Buy -
SELLER

TJC

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 33 of 58
Sector (Aerospace) 1 of 1
Type (Add-on Acquisition) 15 of 21
State (Ohio) 2 of 5
Country (United States) 32 of 56
Year (2015) 1 of 2
Size (of disclosed) 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-21 GSI

Houma, Louisiana, United States

GSI is an oilfield rental tools and services company that specializes in offering a variety of critical path, high‐pressure flow control, intervention and decommissioning equipment. GSI was formed in 1978 and is based in Houma, Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-20 DiversiTech

Duluth, Georgia, United States

DiversiTech is an aftermarket manufacturer and distributor of components for residential and light commercial heating, ventilating, air conditioning, and refrigeration (‘HVACR’). DiversiTech was founded in 1971 and is based in Duluth, Georgia.

Buy -
Mergr

Product

Company

Legal