Acorn Growth Companies and The Edgewater Funds are buying Tods Aerospace & Defence Ltd. of the U.K. Financial terms weren’t announced. Tods engineers, designs and makes advanced materials technology for aerospace and naval acoustic structures. Caltius Capital Management and PNC Bank provided debt financing for the transaction. Lincoln International represented the buyer.
OKLAHOMA CITY–(BUSINESS WIRE)–Acorn Growth Companies and The Edgewater Funds have partnered to acquire U.K.-based Tods Aerospace & Defence Ltd to further expand the design, engineering and manufacturing capabilities of AGC Composites & Aerostructures, which is a component of AGC Aerospace & Defense. Tods Aerospace & Defence specializes in the engineering, design and manufacture of advanced materials technology for aerospace and naval acoustic structures.
“This transaction is another exciting step in our global growth strategy,” stated Rick Nagel, Acorn Growth Companies Partner. “Tods’ sophisticated engineering, design and build experience will further complement our capabilities and also strengthens and diversifies our existing customer base.”
“This addition will lead to further group innovation, efficiencies and ultimately create a higher value partnership with our customers,” said Rick Armstrong, President & CEO of AGC Composites & Aerostructures. “Tods will play an integral role in the strategic advancement of our group platform as we further penetrate the European, Middle East and Asian marketplaces.”
“By joining such an innovative and strategically focused team, Tods will become a more resourceful strategic partner to our customers, and also be better positioned to address significant market trends,” added Simon Finch, President of Tods Aerospace & Defence.
The acquisition marks the second international joint venture between Acorn Growth Companies and The Edgewater Funds and the third overall partnership in the last year. Tods Aerospace & Defence will become the fifth business to be consolidated into AGC Composites & Aerostructures.
Caltius Capital Management and PNC Bank provided debt financing for the transaction. Lincoln International represented the buyer.
The Tods executive team will be integrated into AGC Composites & Aerostructures and do business as Tods Composite Solutions, an AGC Aerospace & Defense Company. Details of the transaction were not disclosed.
Acorn Growth Companies is a private equity firm focused exclusively on aerospace and defense opportunities and oversees management and control of the AGC Aerospace & Defense portfolio companies. The firm has over $200 million under management with companies across the United States and United Kingdom, operating worldwide under its primary banner, AGC Aerospace & Defense.
The Edgewater Funds is a Chicago-based private equity firm with nearly $1.4 billion in capital under management. Through Edgewater Growth Capital Partners, the firm partners with management to help accelerate growth in their businesses. Edgewater focuses on funding high quality middle market companies where it can add substantial value through capital, experience and its broad network.