MPE Partners has sold the B&E Group‘s OEM manufacturing division to Cadence Aerospace, which is backed by Arlington Capital Partners. No financial terms were disclosed. Based in Southwick, Massachusetts, B&E Group is a maker of complex, precision machined aerospace and defense components.
CLEVELAND and BOSTON, Nov. 6, 2019 /PRNewswire/ — MPE Partners (“MPE” or “Morgenthaler Private Equity”), a preferred partner for entrepreneur- and family-owned companies, announced the sale of the OEM Manufacturing Division of the B&E Group (“the B&E Group” or “the Company”) to Cadence Aerospace, a portfolio company of Arlington Capital Partners. The B&E Group, headquartered in Southwick, MA, is a manufacturer of complex, precision machined aerospace and defense components.
Bob Quaglia, COO and President of the B&E Group, remarked, “MPE served as a great strategic partner and sounding board for our team as we executed on an aggressive growth plan, developed our best-in-class employee base, and further enhanced our robust manufacturing capabilities. We have enjoyed the partnership with MPE and are proud of the foundation we have built together.”
Peter Taft, Partner at MPE, added, “We are proud of the investment made into both the people and the infrastructure to support the Company’s growth trajectory, as the B&E Group was able to scale successfully and nearly double its earnings organically since our original investment.”
Charlie Rossetti, Principal at MPE, added, “It has been an absolute pleasure to work with Bob and the team at the B&E Group. The employees of the B&E Group are truly one-of-a-kind, and we thank them for their persistent efforts to look after their customers and drive the business further every day. We wish them the best of luck as they take the next step in their journey.”
Houlihan Lokey advised the B&E Group on the transaction and Jones Day served as legal counsel. Terms of the transaction were not disclosed.
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 – $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.