Belcan, which is backed by AE Industrial Partners LLC, has agreed to acquire Schafer Corporation from Metalmark Capital Partners. No financial terms were disclosed. The deal is expected to close in the second quarter of this year. Schafer is a provider of scientific, engineering, and technical services to numerous military and civil government agencies.
Cincinnati, Ohio – April 6, 2017 – Belcan, LLC (“Belcan”), a global supplier of engineering, technical recruiting, and information technology (IT) services to the aerospace, defense, industrial, and government services markets, announced today that it has entered into an agreement to acquire Schafer Corporation (“Schafer”) from Metalmark Capital Partners. The transaction is expected to close in the second quarter of 2017. Belcan is a portfolio company of AE Industrial Partners, LLC (“AEI”), a private investor in aerospace, power generation, and specialty industrial companies.
Since 1972, Schafer Corporation has been a leading provider of scientific, engineering, and technical services to numerous military and civil government agencies. Schafer employs more than 400 experts worldwide in areas such as CBRNE (chemical, biological, radiological, and nuclear defense), space systems, air and missile defense, micro materials, and cybersecurity.
“Belcan is building an unrivaled array of engineering and IT capabilities, and Schafer is the latest acquisition to support this global initiative,” said Lance Kwasniewski, Chief Executive Officer of Belcan. “Schafer represents a tremendous addition to our Government Services business, which helps governments and institutions worldwide support mission-critical tasks.”
“Schafer is excited to join the Belcan family, we believe the combination brings exciting growth opportunities as our expertise and services are a perfect fit,” said Michael Griffin, Chairman and Chief Executive Officer of Schafer Corporation. “With Belcan’s support and capabilities, we will be able to further expand our services and reach, which is critical to meet the growing demand of our customers across the globe.”
“With five acquisitions in less than 18 months, Belcan has demonstrated an unrelenting commitment to expanding its capabilities and footprint,” said David H. Rowe, Managing Partner of AEI. “We are proud to have helped Belcan grow to become an undisputed leader in the markets it serves.”
PricewaterhouseCoopers LLP served as financial advisor to Belcan and AE Industrial Partners. Raymond James & Associates, Inc. served as financial advisor to Schafer and Metalmark Capital.
Belcan is a global supplier of engineering, technical recruiting, and IT services to customers in the aerospace, defense, industrial, and government sectors. Belcan engineers better outcomes through adaptive and integrated services. From jet engines, airframe, and avionics to heavy vehicles, chemical processing, and cybersecurity, Belcan takes a partnering approach to provide customer-driven solutions that are flexible, scalable, and cost-effective. Belcan’s unique capabilities have led to continuous growth and success for nearly 60 years. For more information, please visit www.belcan.com
About Schafer Corporation
Schafer Corporation is a leading provider of scientific, engineering, and technical services and products applied to defeating national security threats. The company provides innovative engineering and technology solutions to the military, intelligence community, DHS, NASA, and others. The Company has been widely recognized for its technical expertise and ability to provide objective analysis that leads to the development of innovative, problem-solving solutions. For more information, please visit http://www.schafercorp.com/
About AE Industrial Partners
AE Industrial Partners, LLC is a leading private investment firm in the aerospace, power generation and specialty industrial sectors, focusing on highly technical manufacturing, distribution and supply chain management, MRO (maintenance, repair, and overhaul) and industrial service-based businesses. AE Industrial’s team includes partners with C-suite operating experience in organizations such as GE, Gulfstream Aerospace, Power Systems Manufacturing, Hawker Beechcraft, Landmark Aviation, Bombardier, Aviall, B/E Aerospace, NetJets, and Grand Prairie. For more information, please visit www.aeroequity.com.
About Metalmark Capital Partners
Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives. The Firm focuses its investment activity in energy, agribusiness, growth industrials and healthcare. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments. For more information, please visit www.metalmarkcapital.com