M&A Deal Summary

TRM Equity Acquires Gamma Aerospace

On March 2, 2023, distressed investor TRM Equity acquired aerospace company Gamma Aerospace from Ashland Capital Partners

Acquisition Highlights
  • This is TRM Equity’s 2nd transaction in the Aerospace sector.
  • This is TRM Equity’s 4th transaction in the United States.
  • This is TRM Equity’s 1st transaction in Texas.

M&A Deal Summary
Date 2023-03-02
Target Gamma Aerospace
Sector Aerospace
Buyer(s) TRM Equity
Sellers(s) Ashland Capital Partners
Deal Type Secondary Buyout

Target

Gamma Aerospace

Mansfield, Texas, United States
Gamma Aerospace is a manufacturer of engineered airframe and flight components for leading original equipment manufacturers and Tier I suppliers in the aerospace and defense industry. Gamma Aerospace was founded in 1971 and is based in Mansfield, Texas.

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Buyer(S) 1

Buyer

TRM Equity

Category Distressed Investor
Founded 2019
Size Small
Type Sector Agnostic
DESCRIPTION

TRM Equity is a distressed investor focused on special situation opportunities in the manufacturing sector. The Firm was formed in 2019 and is headquartered in Ann Arbor, Michigan.

DEAL STATS #
Overall 4 of 5
Sector (Aerospace) 2 of 2
Type (Secondary Buyout) 3 of 4
State (Texas) 1 of 1
Country (United States) 4 of 5
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 IHP

Nashville, Tennessee, United States

Innovative Hearth Products is a manufacturer of indoor and outdoor fireplaces, fireplace inserts, free-standing stoves, gas log sets, venting products and accessories for the specialty retail, residential new construction and industrial markets. Based in Nashville, Tenn. IHP operates manufacturing facilities in Russellville, Ala., Santa Ana, Calif. and Auburn, Wash.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-03 NRE

Mount Vernon, Illinois, United States

NRE is a provider of remanufactured locomotives for sale or lease, third-party locomotive and marine engine overhaul and maintenance services, and locomotive parts and components. NRE was founded in 1984 and is based in Mount Vernon, Illinois.

Buy -

Seller(S) 1

SELLER

Ashland Capital Partners

Chicago, Illinois, United States
Category Private Equity Firm
Founded 2005
Size Small
Type Sector Agnostic
DESCRIPTION

Ashland Capital Partners is a private investment group focused on acquiring and growing lower middle-market companies with revenues greater than $20 million. Sectors of interest include industrial manufacturing/services, distribution/logistics, and business services. Ashland prefers situations where a management team is looking to acquire from the current owner, current owners are looking to retire, or ownership is looking for an outside partner to help grow the business. Ashland Capital Partners was established in 2005 and is based in Chicago, Illinois.

DEAL STATS #
Overall 3 of 3
Sector (Aerospace) 1 of 1
Type (Secondary Buyout) 2 of 2
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-10 Metaltec Steel Abrasive

Canton, Michigan, United States

Metaltec Steel Abrasive is a producer of cast steel abrasive products, including steel shot and steel grit, along with several niche materials that are produced as a byproduct of the grit and shot manufacturing process. Metaltec Steel Abrasive was founded in 1981 and is based in Canton, Michigan.

Buy -
Mergr

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