AC&A Enterprises Holdings LLC, which is backed by AE Industrial Partners, has acquired Brea, California-based EnCore Composite Structures Inc, a maker of composite parts and assemblies for commercial aerospace programs. No financial terms were disclosed. PricewaterhouseCoopers LLP served as financial adviser to AEI while Houlihan Lokey did likewise to ECS.
LAKE FOREST, Calif.–(BUSINESS WIRE)–AC&A Enterprises Holdings, LLC, (“AC&A”), a leading provider of composite and metallic parts in the aerospace, defense, space and specialty automobile markets, announced today that it has acquired EnCore Composite Structures, Inc. (“ECS”), a division of the EnCore Group. Terms of the transaction were not disclosed.
AC&A is a portfolio company of AE Industrial Partners, LLC (“AEI”), a private equity investor specializing in aerospace, power generation, and specialty industrial companies.
Located in a 110,000 square foot facility in Brea, CA, ECS is a leading designer and manufacturer of highly complex composite parts and assemblies for a large and growing set of commercial aerospace programs including the A320, A350, 737 MAX, and 787 as well as several military programs. ECS is AC&A’s second add-on acquisition and follows the recent acquisition of Applied Composites Engineering, Inc. (“ACE”), a leader in advanced composites solutions for aerospace and defense applications, in November 2017.
“The acquisition of ECS represents a strategic addition to the unique composites platform that we are building,” said Bill Boisture, Chairman of the Board of AC&A and Operating Partner of AEI. “ECS provides us with a powerful combination of high-growth aerospace programs, strong OEM relationships, and unique manufacturing capabilities while also transforming our scale and market presence. We are excited to have completed this acquisition and to be adding the more than 260 talented ECS employees to our team.”
“AC&A and AEI are investing significantly in aerospace composites and are the ideal strategic partner for ECS,” said Tom McFarland, CEO of the EnCore Group. “We are excited to see these best-in-class composite structures suppliers come together and strongly believe ECS’s customers and people will benefit from this combination.”
Kirkland & Ellis LLP served as legal advisor, PricewaterhouseCoopers LLP served as financial advisor and Rothschild, Inc. served as debt advisor to AEI. Gibson Dunn & Crutcher LLP served as legal advisor and Houlihan Lokey served as financial advisor to ECS.
About EnCore Composite Structures
ECS is a leading designer and manufacturer of complex composite components and assemblies for the aerospace industry. Based in Brea, CA, ECS is widely recognized as a leading supplier of advanced composite solutions for airframes, auxiliary power units, nacelle structures and wings with expanding content on high growth aerospace programs, including the A320, A350, 737 MAX, 787, as well as several military aircraft including the V-22.
AC&A, based in Lake Forest, CA and acquired by AEI in 2016, is a leading provider of composite and metallic parts and tooling to the aerospace, defense, space and specialty automobile markets with exceptional carbon composite capabilities. AC&A is highly proficient in both tool generation and component part manufacturing for its core markets as well as emerging, high-growth markets such as space and unmanned aerial vehicles (UAVs). With a reputation for producing solutions for difficult-to-manufacture parts, AC&A continues to grow its list of blue-chip customers. For more information, please visit www.acamfg.com
About AE Industrial Partners
AE Industrial Partners is a leading private equity firm specializing in control-oriented investments in aerospace, power generation, and specialty industrial businesses. AEI invests in market-leading companies that can benefit from its deep operating experience, industry knowledge, and relationships. Learn more at www.aeroequity.com