BlackArch Partners announced the sale of Aero Precision Industries LLC to a fund managed by Odyssey Investment Partners, LLC. API and its related aviation services businesses were subsidiaries of Greenwich AeroGroup, Inc., which is a portfolio company of Berkley Capital, LLC.
API is headquartered in Livermore, CA with additional locations in San Francisco, CA, Austin, TX and Japan. The company is a leading distributor of military and commercial aerospace and MRO services to a diverse global customer base. API has longstanding partnerships with leading OEMs to provide customers with access to a broad range of mission-critical, difficult-to-source parts and equipment. The company also provides complementary value-added services including management of parts repair, overhaul, upgrades, quality assurance, compliance, design-in engineering and after-sales support.
Frank Cowle, President of API, commented: "It was a pleasure working with the BlackArch Team. The team's ability to grasp the value proposition of Aero Precision and their work behind the scenes made our job a lot easier. Their knowledge of the market and getting the right people in front of us were key to the success of the deal."
BlackArch was retained by Berkley Capital as its exclusive financial advisor. The transaction continues BlackArch's strong momentum in the aerospace, defense & government services ("ADGS") and Distribution sectors and is representative of the firm's focus on providing unique M&A advisory services to market-leading and sponsor-backed growth businesses.
Berkley Capital, LLC is the private equity investment vehicle of W. R. Berkley Corporation, a Fortune 500 property and casualty insurance company. Berkley Capital is a leading middle-market private equity investor that has successfully partnered with numerous companies in the financial, healthcare, aviation and business services sectors.
Greenwich AeroGroup operates a network of aviation services companies that seek to leverage their collective relationships and competencies. The company has extensive capabilities globally and provides a full range of aviation services, including MRO, CRO, parts distribution and manufacturing services for business, commercial and military aircraft.
Based in New York and California, Odyssey Investment Partners is a private equity firm that invests in middle-market operating companies with EBITDA of generally between $20 million and $100 million. The firm focuses on partnering with skilled managers of leading platforms in fragmented markets to support future growth plans. Odyssey has raised over $5.0 billion of private equity capital since inception, investing in over 40 platform companies and over 125 add-on acquisitions. Odyssey is currently investing out of its fifth fund, a $2.0 billion vehicle raised in 2014.
BlackArch Partners is a leading middle-market investment bank offering a full spectrum of advisory services to financial sponsors, private companies and diversified corporations.