Chicago-based private equity firm The Edgewater Funds has recapitalized Oklahoma City-based Acorn Growth Companies, the firm announced Tuesday. The financing will support Acorn’s investment in the aerospace structures and composites segment. Terms of the financing were not released. Acorn Growth Companies owns and controls investments under the brand AGC Aerospace & Defense.
Acorn Growth Companies (Acorn) has announced the creation of a partnership and recapitalization of the company’s investment in the aerospace structures and composites segment. The transaction with The Edgewater Funds, a Chicago-based private equity firm, provides significant equity capital to support Acorn Growth Companies’ aerospace acquisition strategy.
“The announcement of this partnership and recapitalization with Edgewater represents a key milestone in our on-going efforts to develop a global aerospace composites and structures platform,” said Acorn Partner Rick Nagel. “It will allow us to move faster, evaluate larger opportunities, and provide more certainty of long term success, while stabilizing our balance sheet as we prepare for meaningful growth.”
“We are confident that this partnership with Edgewater, combining their deep sector expertise with our experienced and dedicated management team, will result in the achievement of our mutual goal of building and growing a $500 million enterprise over the next few years,” said Acorn Partner Jeff Davis. “It is gratifying and humbling that Edgewater, a highly successful firm, has validated our investment approach and seeks to work with us in the aerospace industry.”
Edgewater Partner Jeff Frient added, “We are impressed with Acorn’s reputation in the industry and their steadfast commitment to building value for their investors. We are pleased that Acorn will be our partner as we work together to grow our aerospace investment portfolio.”
About Acorn Growth Companies
Acorn Growth Companies owns and/or controls investments under the brand AGC Aerospace & Defense which is a global supplier of technologies, systems and services that support key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio range from financing, engineering, and integration services to manufacturing, logistics, and aircraft modifications. AGC Aerospace & Defense is organized into four operating groups: Composites, Finance, Integrated Defense, and Services.
For additional information about Acorn Growth Companies or AGC Aerospace & Defense, please visit www.acorngc.com.
About The Edgewater Funds
The Edgewater Funds is a Chicago-based private equity firm with nearly $2 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.