Acorn Growth Companies Acquires Aerospheres (UK) Ltd
Oklahoma City, OK (PRWEB) April 14, 2015 -- Acorn Growth Companies, a middle market private equity firm investing exclusively in aerospace and defense, has completed the acquisition of Aerospheres (UK) Ltd, a leading chemical and composite repair supplier to the commercial airline and MRO markets.
Located 12 miles from Heathrow International Airport, Aerospheres (UK) services over 650 airlines and maintenance outlets around the world. The company has an impressive capability & inventory of over 14,000 chemicals and composite repair supplies and maintains quality approvals from the largest names in the commercial airline and MRO industry.
"Aerospheres aligns perfectly with our broad market strategy and is an excellent fit in our portfolio to drive greater growth and long term sustainability for MRO and niche-distribution businesses.” said Rick Nagel, Managing Partner, Acorn Growth Companies. "This acquisition demonstrates our commitment to prudently deploy capital while leveraging existing portfolio synergies that exist today with AGC AeroComposites, APSE, and Valair."
Aerospheres (UK) was founded in 1991 by Ben Nemenyi, who led the company’s successful journey to become a worldwide supplier to the aerospace industry. Mr. Nemenyi will continue to serve as Managing Director and will partner with Acorn’s operational team to continue the company’s strong legacy and entrepreneurial spirit.
"We are excited to become part of such a dynamic company. AGC is deeply committed to growing our business and helping us maintain impeccable quality, affordability, speed, and customer service standards. Our entire dedicated staff looks forward to working with AGC as we mutually explore growth areas in the future” said Nemenyi.
Acorn Growth Companies operates its portfolio of companies under the AGC Aerospace & Defense brand positioning itself as a global supplier of technologies, systems and services supporting key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio include: engineering, integration services, manufacturing, logistics, MRO, modifications, and aircraft finance and leasing.
Financing was provided by the RiverRock European Opportunities Fund. Details regarding the transaction were not disclosed.
About Acorn Growth Companies
Acorn Growth Companies is an operationally focused, middle market private equity firm investing exclusively in global aerospace and defense opportunities. Since 2005, Acorn has been in the top quartile of performance for global private equity firms across its four current funds. Today, the firm operates a portfolio of companies representing over $200 million in revenue under the brand AGC Aerospace and Defense and continues to seek new investments. For more information visit: http://www.acorngrowthcompanies.com
About Aerospheres
Aerospheres (UK) Ltd, has nearly 25 years of experience providing the commercial airline and maintenance repair and overhaul (MRO) industries with all of their material requirements, with an emphasis on composites, specialty chemicals, paints, and sealants. Over 600 global airlines and maintenance outlets rely on Aerosphere’s logistical infrastructure and ability to source and supply even the most difficult materials with the same or next-day turnaround. Aerospheres is an AGC Aerospace & Defense company. For more information visit: http://www.aerospheres.com
About RiverRock
The RiverRock European Opportunities Fund was founded in 2011 to provide capital to European small and medium sized companies. The fund has invested across Europe in a variety of sectors including telecommunications, manufacturing, services, technology and renewables. For more information visit: http://www.riverrock.eu
Erika Lucas, AGC Aerospace & Defense, http://www.agcaerospace.com, +1 (405) 737-2676 Ext: 2012, [email protected]
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