M&A Deal Summary

Greenbriar Equity Group and CD&R Acquire Pursuit Aerospace

On February 16, 2023, private equity firms Greenbriar Equity Group and CD&R acquired aerospace company Pursuit Aerospace

Acquisition Highlights
  • This is Greenbriar Equity Group’s 9th and CD&R’s 2nd transaction in the Aerospace sector.
  • This is Greenbriar Equity Group’s 36th and CD&R’s 60th transaction in the United States.
  • This is Greenbriar Equity Group’s 5th and CD&R’s 2nd transaction in Connecticut.

M&A Deal Summary
Date 2023-02-16
Target Pursuit Aerospace
Sector Aerospace
Buyer(s) Greenbriar Equity Group
CD&R
Deal Type Consolidation

Target

Pursuit Aerospace

Manchester, Connecticut, United States
Pursuit Aerospace is a global manufacturer of highly engineered aircraft engine components with capabilities across fabrication, precision machining, forging, casting, and complex assembly. Pursuit supports the world’s leading aero-engines across commercial and military aircraft platforms through longer-term relationships with OEMs and Tier 1 suppliers. Pursuit Aerospace is based in Manchester, Connecticut.

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Buyer(S) 2

Buyer

Greenbriar Equity Group

Greenwich, Connecticut, 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 41 of 45
Sector (Aerospace) 9 of 10
Type (Consolidation) 2 of 2
State (Connecticut) 5 of 5
Country (United States) 36 of 40
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-16 Whitcraft

Eastford, Connecticut, United States

Whitcraft is a manufacturer of high quality, precision formed, machined and fabricated metal parts for the U.S. aerospace industry. The Company manufactures new and replacement jet engine and helicopter parts for large engine manufacturers serving both the commercial and military aircraft market. Whitcraft was founded in 1960 and is based in Eastford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-05 Towne Park

Annapolis, Maryland, United States

Towne Park is a provider of contracted hospitality services and parking systems nationwide. Towne Park was founded in 1988 and is based in Annapolis, Maryland.

Buy -
Buyer

CD&R

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Clayton, Dubilier & Rice LLC (CD&R) is a large private equity firm that targets non-core divestitures of large corporations, growth equity financings, traditional buyouts, and corporate/family partnerships. CD&R looks for opportunities in North America, Western Europe, and Asia and will consider businesses in a wide range of sectors including consumer/retail, healthcare, industrials, and services. Prospective companies generally lead their respective markets, have stable cash flows, and possess competitive advantages through differentiated products, services, or processes. CD&R was formed in 1978 and has offices in New York City and London.

DEAL STATS #
Overall 85 of 93
Sector (Aerospace) 2 of 2
Type (Consolidation) 2 of 2
State (Connecticut) 2 of 2
Country (United States) 60 of 67
Year (2023) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-28 OCS Group

London, United Kingdom

OCS Group offers cleaning, multi-tech, and security services to organizations around the world. From offices and hospitals to stadiums and retail parks, to manufacturing plants, airports and courtrooms, OCS protects assets and people, delivering services to customers across multiple sectors in communities every day. OCS Group was founded in 1900 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-27 Focus Financial Partners

New York, New York, United States

Focus Financial Partners is a partnership of independent, fiduciary wealth management firms. Focus provides superior access to best practices, resources, and continuity planning for its partner firms that serve individuals, families, employers, and institutions with wealth management, benefits consulting, and investment consulting services. Focus Financial Partners is based in New York City.

Buy $7.0B
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