EVERETT, Wash.–(BUSINESS WIRE)–PRV Aerospace, LLC (“PRV Aerospace”), a portfolio company of Court Square Capital Partners (“Court Square”), announced today that it has acquired all of the outstanding stock of Astro Spar, Inc. (“Astro Spar” or the “Company”). Located in City of Industry, California, Astro Spar is a manufacturer of long, complex, precision-machined components and assemblies for the commercial and military aerospace industries.
“The capabilities of Astro Spar, its aircraft platform positions, the strength of the management team and a strong presence in the commercial aerospace market fit well with our existing businesses and overall strategic direction,” said Richard Wood, CEO of PRV Aerospace. “We look forward to partnering with the Astro Spar management team, which will continue to be led by Omar Khan, and the employees, to build on the Company’s excellent reputation and further expand the range of products and services we offer to our customers.”
Debt financing for the transaction was provided by GE Antares Capital and Ares Capital Corporation. AeroAdvisory, LLC provided strategic advice and due diligence and purchase agreement negotiation support to PRV Aerospace management. Janes Capital Partners acted as exclusive financial advisor to Astro Spar.
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.