Platte River Ventures Announces Sale Of PRV Aerospace, LLC
Platte River Ventures (“Platte River”) , a Denver, CO based private equity firm, announced the sale of its portfolio company, PRV Aerospace, LLC (“PRV Aerospace”), to an affiliate of Court Square Capital Partners (“Court Square”), a private equity firm headquartered in New York, NY.
Headquartered in Everett, WA, PRV Aerospace is an aerospace and defense group that supplies components, subassemblies and assemblies to the world’s leading manufacturers of aircraft, aero-equipment and other defense platforms. Comprised of six operating facilities, PRV Aerospace performs complex machining of hard metals and aluminum, sheet metal fabrication, assembly and test, repair and overhaul, and lower tier supply chain management. Platte River formed PRV Aerospace in January 2010 by consolidating the four aerospace operating companies it had acquired between 2006 and 2008, and PRV Aerospace subsequently completed two strategic add-on acquisitions in 2010 and 2011.
“We are proud of the business that Platte River and PRV Aerospace management have built over the past six years, which is the result of our vision to develop a leading aerospace and defense supplier,” said Platte River Managing Director Greg Sissel. “Richard Wood and his team have built a strong foundation from which the business can continue to grow into an even more strategic supplier to the leading OEMs and Tier-1s.”
“We have had an exceptional relationship with Platte River, and my team and I have valued their strategic insight and guidance over the past several years,” said Richard Wood, CEO of PRV Aerospace. “We are pleased that this sale will deliver attractive returns for Platte River’s investors and wish them continued success. We now look to build on the strong base we created in close partnership, this time with Court Square.”
Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, and Bank of America Merrill Lynch served as the exclusive financial advisor to PRV Aerospace.
For more information, the full press release is available at:
About Court Square Capital Partners
Court Square Capital is one of the most experienced private equity firms in the industry. Since 1980, the group has invested in over 170 transactions across a wide array of sectors including: aerospace & defense, industrials, business services, technology, telecommunications, healthcare, media and travel. Court Square Capital currently manages over $4 billion of aggregate capital commitments and is based in New York, NY. For more information please refer to Court Square’s website at www.courtsquare.com.