Trive Capital Recapitalizes AEVEX Aerospace with $160M Unitranche from Bain Capital Credit

AEVEX Aerospace Acquires Veth Research Associates

October 1, 2024

Aerospace & Defense

AEVEX Aerospace has acquired Veth Research Associates (VRA), a veteran‑owned specialist in navigation, sensor fusion and autonomous systems, to strengthen its capabilities for operating unmanned systems in jammed and GPS‑denied environments. The deal brings VRA’s LYNX vision‑based navigation system and related IP and expertise into AEVEX’s portfolio, enhancing autonomous navigation and decision‑making for DoD and international customers.

Trive Capital Invests in Systems Innovation Engineering

February 16, 2022

Aerospace & Defense

Dallas-based private equity firm Trive Capital has made a strategic investment in Systems Innovation Engineering (SIE), a Mullica Hill, New Jersey–based defense systems engineering and design firm. The capital will support SIE’s continued growth and capability expansion across radar/RF, directed energy, counter-UAS systems and supply-chain/logistics support for defense customers.

Trive Capital Provides Structured Recapitalization to Field Aerospace

July 27, 2020

Aerospace & Defense

Dallas-based private equity firm Trive Capital provided a structured capital investment in Field Aerospace to buy out a minority shareholder (Dan Magarian) and support the company’s future growth and acquisition plans. Field Aerospace, headquartered in Cincinnati, Ohio, operates aircraft integration, modification, engineering and parts manufacturing facilities serving government, aerospace and defense customers across the U.S. and Canada.

Madison Dearborn Partners and CoVant Management Acquire AEVEX Aerospace

March 9, 2020

Aerospace & Defense

Madison Dearborn Partners and CoVant Management have agreed to acquire majority ownership of AEVEX Aerospace from Trive Capital. AEVEX is a provider of full‑spectrum airborne intelligence, surveillance, and reconnaissance (AISR) technology solutions to the U.S. Department of Defense, Special Operations, and the Intelligence Community; the company employs approximately 600 people and maintains offices across multiple U.S. states. The transaction is expected to close by the end of Q1 2020, and AEVEX's founder‑management team will retain a significant ownership stake.

Vance Street Capital and Neuberger Berman Recapitalize Eirtech Aviation Services

December 24, 2019

Industrial Services

Vance Street Capital completed a recapitalization of Eirtech Aviation Services, with funds advised by Neuberger Berman Private Credit co-investing alongside Vance Street. Headquartered in Shannon, Ireland, Eirtech provides engineering, manufacturing, asset management and CAMO services to airlines, lessors and OEMs; founders Niall Cunningham and Gerry O'Shea retain a material ownership stake. The deal positions Eirtech for growth by providing capital, industry relationships and operational support; terms were not disclosed.

Trive Capital Partners with California Brazing

January 7, 2019

Manufacturing

Trive Capital, a Dallas-based private equity firm, has acquired California Brazing, a Newark, California manufacturer of precision brazed components and CNC-machined parts serving aerospace, defense and satellite communications customers. Trive will provide capital and resources to support the company's continued growth, expanded capacity and capability investments across its San Francisco Bay Area and Carson City facilities.