M&A Deal Summary

J.F. Lehman & Company Acquires CTS Engines

On December 28, 2020, private equity firm J.F. Lehman & Company acquired aerospace company CTS Engines from Platte River Equity

Acquisition Highlights
  • This is J.F. Lehman & Company’s 3rd transaction in the Aerospace sector.
  • This is J.F. Lehman & Company’s 36th transaction in the United States.
  • This is J.F. Lehman & Company’s 3rd transaction in Florida.

M&A Deal Summary
Date 2020-12-28
Target CTS Engines
Sector Aerospace
Buyer(s) J.F. Lehman & Company
Sellers(s) Platte River Equity
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)
Bartlit Beck Herman Palenchar & Scott (Legal)

Target

CTS Engines

Fort Lauderdale, Florida, United States
CTS Engines' corporate headquarters in Ft. Lauderdale, Florida.
CTS Engines' corporate headquarters in Ft. Lauderdale, Florida.
CTS Engines provides a full spectrum of maintenance, repair, and overhaul (“MRO”) services for established engine platforms, specializing in the overhaul of the General Electric CF6-80C2, CF6-80A and CF6-50 engines, as well as the Pratt & Whitney PW2000. CTS also performs developmental testing on next-generation aerospace engines utilizing the highest thrust independent commercial test facility in the world. CTS Engines was founded in 2002 and is based in Fort Lauderdale, Florida.

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Buyer(S) 1

Buyer

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.

DEAL STATS #
Overall 40 of 45
Sector (Aerospace) 3 of 4
Type (Secondary Buyout) 4 of 4
State (Florida) 3 of 3
Country (United States) 36 of 41
Year (2020) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 ENTACT

Westmont, Illinois, United States

ENTACT is a provider of environmental field remediation services to customers throughout the United States and in select international locations. ENTACT was founded in 1991 and is based in Westmons, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 Trillium Engineering

Hood River, Oregon, United States

Trillium Engineering is a designer and manufacturer of highly engineered camera gimbals for unmanned aerial systems performing mission-critical intelligence, surveillance and reconnaissance missions. Serving as the mission-enabling “eyes” of UAS, the Company’s products provide stability and imagery for real-time geospatial and geolocation applications in the visible and infrared spectrums. Trillium serves a diversified array of domestic and international defense and government UAS OEMs, integrators and end-users. Trillium Engineering was founded in 2013 and is based in Hood River, Oregon.

Buy -

Seller(S) 1

SELLER

Platte River Equity

Denver, Colorado, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 1.6B USD
Size Large
Type Sector Focused
DESCRIPTION

Platte River Equity is a private equity firm focused on investing in small and middle-market private companies based in the US. Platte River generally invests $25 to $100 million of equity capital per transaction and looks for businesses that can benefit from the Firm's operating expertise. Sectors of interest include aerospace manufacturing and services, metals, chemicals, energy and energy services, natural resources, financial services, and communications. Platte River typically targets control investment situations, but will opportunistically pursue minority investments. Platte River Equity was formed in 2006 and is based in Denver, Colorado.

DEAL STATS #
Overall 14 of 18
Sector (Aerospace) 2 of 2
Type (Secondary Buyout) 4 of 7
State (Florida) 1 of 1
Country (United States) 13 of 17
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-04 GME

Columbia, Missouri, United States

GME is an omnichannel distributor of fall protection, safety, and productivity equipment. The company supplies a comprehensive selection of fall protection, rigging materials, workwear, and PPE to technicians and contractors working in the telecom, utility, aerial construction, renewable energy, and other industrial markets. It provides expedited delivery of products that are critical to worker safety while catering to unique customer needs with value-added services like curated kitting and certified training courses. GME Supply was founded in 2005 and is based in Columbia, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-22 In-Place Machining

Milwaukee, Wisconsin, United States

In-Place Machining is a provider of high-acuity field machining, metrology, and diamond wire-cutting services for mission-critical infrastructure and equipment. The Company’s services are an essential part of the maintenance, repair, and service cycle for clients across a variety of end-markets including industrial and manufacturing, naval and marine, hydroelectric, metals, and aerospace. In-Place Machining was founded in 1976 and is based in Milwaukee, Wisconsin.

Sell -
Mergr

Product

Company

Legal