Aerospace & Defense Acquisitions in Connecticut

Cook Inlet Region, Inc. (CIRI) and its subsidiaries completed two acquisitions: CIRI Manufacturing purchased HABCO Industries, LLC, a Glastonbury, Connecticut–based aerospace manufacturer, and OSC Global (a CIRI subsidiary) acquired ISYS, Incorporated, an information technology and systems engineering provider. The transactions expand CIRI’s industrial and IT capabilities and diversify the corporation’s portfolio as part of its strategic growth plan.

Barnes Aerospace has completed the acquisition of the East Hartford Operations (EHO) division of ATI Forged Products, a business of ATI Inc. The EHO facility — located in East Hartford, Connecticut — brings more than 75 years of experience and a workforce of over 80 employees, expanding Barnes Aerospace's precision machining capabilities for flight-safety-critical aeroengine and rotorcraft components. Mesirow served as exclusive financial advisor to ATI on the divestiture.

Newly formed Stronvar Aerospace, backed by an investment from Blackstone’s private equity strategy for individual investors, has acquired Electro Methods Inc. (EMI) from privately held owners. The deal positions Stronvar to build a capabilities-focused platform serving the aero-engine supply chain by expanding EMI’s capacity, capabilities and workforce while maintaining continuity of EMI management.

Branford Castle Partners has acquired Hoffman Engineering, a Stamford-based maker of night-vision test equipment, imaging lighting systems and commercial aviation LED specialty lighting, from Trident Maritime Systems. The transaction was financed with senior debt from O2 Sponsor Finance and mezzanine debt and an equity co-investment from Brookside Capital Partners; Hoffman’s management team will remain in place and terms were not disclosed.

HEICO Corporation has acquired the Capewell aerial delivery and descent devices business units from Argosy Private Equity. Argosy will retain Aerial Machine & Tool Corp and Rhine Air Inc as it refocuses on survivability, safety and protection solutions for military and first responder customers, while HEICO expands its aerospace and defense product portfolio.

O2 Investment Partners, through its platform FCAH Aerospace, has made an investment in and partnered with Innodyne Systems, an FAA/EASA Part 145 repair station specializing in MRO, DER, and OPP component services. The deal positions FCAH to expand its engineering and repair capabilities—adding proprietary DER/OPP repairs and creating cross-sell opportunities across commercial, cargo, defense, regional and business-jet markets.

TransDigm Group Incorporated has completed the acquisition of Raptor Labs Holdco, LLC (Raptor Scientific) from L Squared Capital Partners for approximately $655 million in cash. Raptor Scientific is a manufacturer of complex test and measurement solutions serving aerospace and defense markets, expected to generate about $90 million in 2024 revenue and employs roughly 170 people across multiple U.S. manufacturing sites.

VSE Corporation has completed the acquisition of Turbine Controls, LLC, a provider of aftermarket repair and overhaul (MRO) services for engine components and airframe accessories, for approximately $120 million (about $110 million cash and $10 million in stock). The acquisition strengthens VSE's Aviation segment by expanding repair capabilities, adding OEM relationships, and enhancing its position in the commercial engine MRO aftermarket.

Lineage Capital-backed Flightcheck Commercial Aviation Services acquired Keenan Technical Industries (KTI), a provider of aircraft line maintenance services at Bradley International Airport (BDL) and Manchester-Boston Regional Airport (MHT). The transaction closed on December 15, 2023 and expands Flightcheck's line maintenance footprint into the U.S. Northeast as an add-on to its existing platform.

Calvert Street Capital Partners portfolio company Machine Specialties, Inc. has acquired Cambridge Specialty Company, Inc., a Berlin, Connecticut-based precision manufacturer of flight-critical aerospace, defense and space components. The add-on expands MSI's capacity and capabilities, providing customer and service diversification while supporting growth initiatives.

Funds managed by Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group completed acquisitions of Paradigm Precision and Whitcraft Group and combined the businesses to form Pursuit Aerospace, a scaled manufacturer of complex aircraft engine components. The transaction aims to create a diversified, lean-focused supplier for commercial and military OEM engine platforms with leadership led by CEO Doug Folsom and Ray Conner as chairman.

PCX Aerostructures (dba PCX Aerosystems), a Greenbriar Equity Group–owned aerospace manufacturer, has completed the acquisition of Manchester, Connecticut–based Timken Aerospace Drive Systems (ADS). ADS will be rebranded as PCX Aerosystems – Manchester LLC, expanding PCX's gearbox, transmission and MRO capabilities in mission-critical aerospace components.

Enjet Aero has acquired Integral Industries, Inc., a Newington, Connecticut-based manufacturer of components and assemblies for commercial and military aircraft engines. The deal expands Enjet Aero’s North American manufacturing footprint to nine locations and increases its capacity and presence on premier engine platforms; Integral’s owner Ed Mascolo will continue as president of the Newington operation.

Enjet Aero, headquartered in Overland Park, Kansas, has acquired Spartan Aerospace of Manchester, Connecticut, adding a 70,000 sq. ft. facility and 80+ employees to expand production capabilities and its greater Hartford presence. The acquisition enhances Enjet's capabilities in machined aeroengine components, sheet metal fabrication, and assemblies to better serve commercial and defense aerospace OEMs and MRO customers.

Integrated Polymer Solutions (IPS), a portfolio company of Arcline Investment Management, has acquired Swift Textile Metalizing LLC (STM), a Bloomfield, Connecticut-based designer and manufacturer of metalized fabrics for EMI/RFI shielding. STM, founded in 1955 and previously owned by Steve Sigmon since 2015, will join IPS' advanced materials and shielding capabilities to support aerospace, naval and ground defense platforms.

Enjet Aero, a Kansas City-based engine component manufacturer, has acquired Birken Manufacturing of Bloomfield, Connecticut, expanding Enjet's machining, sheet metal and testing capabilities for aeroengine customers. Birken's leadership will remain in place and the facility will be renamed Enjet Aero Bloomfield to integrate into Enjet's network and add capacity for OEM engine programs.

Greenbriar Equity Group has acquired PCX Aerosystems, a precision manufacturer of flight-critical assemblies for rotorcraft and fixed-wing aerospace platforms. The acquisition closed concurrently with PCX's purchase of Senior Aerospace Connecticut and is intended to accelerate PCX's growth and expand its manufacturing capabilities serving OEMs and Tier 1 suppliers.

Essex Industries has acquired Stevens Manufacturing, a Milford, Connecticut-based precision machining firm that supplies OEM parts and sub-assemblies to the aerospace and defense rotorcraft market. The deal (effective February 16, 2021) expands Essex's aerospace and defense product portfolio and improves service coverage for customers in the Northeast; Stevens operates a single 62,000 sq. ft. facility with 54 employees and had been a J.H. Whitney Capital Partners portfolio company since 2014.

Fairbanks Morse, a portfolio company of Arcline Investment Management, has acquired Ward Leonard Operating, LLC, a provider of motors and electronic control solutions for military and marine applications. The deal expands Fairbanks Morse's power and propulsion product portfolio and aftermarket service capabilities for core customers including the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard; terms were not disclosed.

Bromford Industries, a portfolio company of Liberty Hall Capital Partners, acquired Numet Machining Techniques, a precision aerospace engine component manufacturer based in Orange, Connecticut. The add-on deal — financed in part by Citizens Bank and second-lien financing plus an equity co-investment from Stellus Capital Management — expands Bromford's machining capabilities and platform exposure across key engine platforms and major OEM customers.

Compass Partners Capital LLC, a Stamford-based investment firm focused on defense and aerospace, has completed the acquisition of Micro Precision LLC (MPI), a South Windham, Connecticut-based supplier of critical parts and mechanical assemblies to the U.S. submarine program. Compass said the investment will support MPI's growth and expansion of manufacturing capabilities to better serve prime submarine contractors and the U.S. Department of Defense.