M&A Deal Summary

Greenbriar Equity Group Acquires PCX Aerostructures

On April 26, 2021, private equity firm Greenbriar Equity Group acquired aerospace company PCX Aerostructures from RFE Investment Partners and Triangle Capital

Acquisition Highlights
  • This is Greenbriar Equity Group’s 7th transaction in the Aerospace sector.
  • This is Greenbriar Equity Group’s 28th transaction in the United States.
  • This is Greenbriar Equity Group’s 4th transaction in Connecticut.

M&A Deal Summary
Date 2021-04-26
Target PCX Aerostructures
Sector Aerospace
Buyer(s) Greenbriar Equity Group
Sellers(s) RFE Investment Partners
Triangle Capital
Deal Type Secondary Buyout

Target

PCX Aerostructures

Newington, Connecticut, United States
PCX Aerostructures is a manufacturer of flight-critical and other essential components for rotorcraft and fixed-wing aerospace platforms serving military and commercial markets. PCX Aerostructures is based in Newington, Connecticut.

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Buyer(S) 1

Buyer

Greenbriar Equity Group

Rye, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Greenbriar Equity Group is a specialized private equity firm focused on investing in the global transportation and advanced manufacturing industries. Companies of interest include traditional carriers, such as railroads, cruise lines, airlines, air freight, shipping, and trucking, as well as ancillary manufacturers and service companies that support the transportation industry. Greenbriar will consider making majority as well as minority investments through a variety of structures, including leveraged buyouts, recapitalizations, growth capital investments, corporate joint ventures and privatizations. The Firm targets businesses valued from $100 million to $1 billion. Greenbriar Equity was formed in 1999 and is based in Rye, New York.

DEAL STATS #
Overall 33 of 45
Sector (Aerospace) 7 of 10
Type (Secondary Buyout) 15 of 20
State (Connecticut) 4 of 5
Country (United States) 28 of 40
Year (2021) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-23 Nordco

Oak Creek, Wisconsin, United States

Nordco is a provider of highly-engineered equipment, parts and services to the railroad maintenance-of-way, railcar moving and rail flaw detection sectors. Nordco was founded in 1926 and is based in Oak Creek, Wisconsin.

Sell $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-01 OnTrac Final Mile

Vienna, Virginia, United States

OnTrac is the parcel carrier of choice for last-mile e-commerce deliveries that helps retailers and shippers build a competitive advantage through faster delivery times, lower costs, coast-to-coast coverage, and reliable on-time performance. OnTrac was founded in 1986 and is based in Vienna, Virginia.

Sell -

Seller(S) 2

SELLER

RFE Investment Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1979
Size Large
Type Sector Agnostic
DESCRIPTION

RFE Investment Partners is a private equity firm focused on investing in lower middle-market service, manufacturing and healthcare service businesses. Prospective companies are generally profitable with annual cash-flow of at least $5 million. Target businesses also have proven management, defensible market positions, and 'a clearly identified and growing market'. RFE looks to commit $10 to $35 million of equity capital per transaction to support acquisitions, management led buyouts, and recapitalizations. RFE is licensed as a SBIC and was formed in 1979. RFE Investment Partners is based in New Canaan, Connecticut.

DEAL STATS #
Overall 13 of 14
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 7 of 7
State (Connecticut) 3 of 3
Country (United States) 13 of 14
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-25 Congruity HR

Winston-Salem, North Carolina, United States

Congruity HR PEO delivers comprehensive HR solutions to small and mid-sized businesses nationwide, sharpening their competitive advantage. Comprised of respected industry executives and certified HR professionals, Congruity HR provides hands-on, expert human resource services to reduce administrative burdens, ensure compliance with employer regulations, and effectively manage employment cost. The company’s extensive HR service offering includes a full range of health and workers’ compensation insurance products, tax administration, risk management services, and advanced technology. Congruity HR was founded in 2011 and is based in Winston-Salem, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-24 JSI Store Fixtures

Milo, Maine, United States

JSI Store Fixtures is a designer and manufacturer of high-quality refrigerated and non-refrigerated wood merchandising displays for the supermarket industry. JSI Store Fixtures was first to market with a patented line of closed-cell foam merchandising surfaces for produce. JSI Store Fixtures’ merchandising displays are used by many of North America’s top supermarkets, grocery, and food retail chains. JSI was founded in 1991 and is based in Milo, Maine.

Sell $90M
SELLER

Triangle Capital

Raleigh, North Carolina, United States
Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 70 of 71
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 27 of 28
State (Connecticut) 1 of 1
Country (United States) 69 of 70
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-11 Bourn Hall Clinic

Cambridge, United Kingdom

Bourn Bioscience Ltd. is an independent fertility provider that offers fertility treatments to self-funding and NHS patients in our clinics in Cambridge, Colchester, Norwich, King's Lynn, Peterborough, and Wickford. Bourn Bioscience was established in 1980 and is based in Cambridge, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 Baker Hill

Carmel, Indiana, United States

Baker Hill is a provider of cloud-based, end-to-end loan origination, risk management, and analytics software that supports loan origination and loan portfolio management. Baker Hill was formed in 1983 and is based in Carmel, Indiana.

Sell -
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