Platte River Ventures Exits PRV Aerospace

Platte River Ventures has sold portfolio company PRV Aerospace to New York-based Court Square Capital Partners. Terms of the deal were not released. PRV Aerospace supplies components, subassemblies and assemblies to manufacturers of aircraft, aero-equipment and other defense platforms. Platte River Ventures is based in Denver.

PRESS RELEASE

Platte River Ventures (“Platte River”), a Denver, CO based private equity firm, announced the sale of its portfolio company, PRV Aerospace, LLC (“PRV Aerospace”), to an affiliate of Court Square Capital Partners (“Court Square”), a private equity firm headquartered in New York, NY.

 

Headquartered in Everett, WA, PRV Aerospace is an aerospace and defense group that supplies components, subassemblies and assemblies to the world’s leading manufacturers of aircraft, aero-equipment and other defense platforms. Comprised of six operating facilities, PRV Aerospace performs complex machining of hard metals and aluminum, sheet metal fabrication, assembly and test, repair and overhaul, and lower tier supply chain management. Platte River formed PRV Aerospace in January 2010 by consolidating the four aerospace operating companies it had acquired between 2006 and 2008, and PRV Aerospace subsequently completed two strategic add-on acquisitions in 2010 and 2011.

 

“We are proud of the business that Platte River and PRV Aerospace management have built over the past six years, which is the result of our vision to develop a leading aerospace and defense supplier,” said Platte River Managing Director Greg Sissel. “Richard Wood and his team have built a strong foundation from which the business can continue to grow into an even more strategic supplier to the leading OEMs and Tier-1s.”

 

“We have had an exceptional relationship with Platte River, and my team and I have valued their strategic insight and guidance over the past several years,” said Richard Wood, CEO of PRV Aerospace. “We are pleased that this sale will deliver attractive returns for Platte River’s investors and wish them continued success. We now look to build on the strong base we created in close partnership, this time with Court Square.”

 

Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, and Bank of America Merrill Lynch served as the exclusive financial advisor to PRV Aerospace.

 

About Platte River Ventures

 

Based in Denver, CO, Platte River Ventures is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million, as well as strategic add-on investments. The firm focuses on investing in aerospace & transportation, industrial & energy services and chemicals, metals & minerals. Platte River Ventures currently manages funds with committed capital in excess of $300 million. For more information, please visit www.platteriverventures.com .

 

About Court Square Capital Partners

 

Court Square is one of the most experienced teams in the private equity industry. Since 1979, the team has made over 200 investments including several landmark transactions and has developed numerous businesses into leaders in their respective markets. Based in New York, Court Square invests in companies that have compelling growth potential. The Firm manages over $3.5 billion in aggregate capital commitments while focusing on the following four sectors: business services, general industrial, healthcare and technology/telecommunications. For more information, please refer to the Court Square website at www.courtsquare.com .

 

About PRV Aerospace

 

Headquartered in Everett, WA, PRV Aerospace is a precision manufacturer of flight critical components for the commercial aerospace and defense industries. Through machining of hard metals, alloys and aluminum, fabrication of sheet metal and production of complex assemblies, PRV Aerospace manufactures parts for the most successful existing and next generation commercial aviation and defense programs.

 

 

PRESS RELEASE

NEW YORK, May 11, 2012 (BUSINESS WIRE) — CTPartners CTP +0.16% , a leading global retained executive search firm, announced today that it has signed a letter of intent to acquire Farin & Company, a Hamburg, Germany based executive search firm focused on executive recruiting, development and corporate learning.

 

Annika Farin will join the firm as Managing Partner, Head of Germany. Before starting Farin & Company in 2010, she was a Partner in a leading multi-national executive search company.

 

Brian Sullivan, Chief Executive Officer of CTPartners said, “Farin & Company shares the same commitment to quality as CTPartners, and we are pleased and excited to have them join our firm. They represent the best in executive search, development and corporate learning.”

 

Annika Farin, stated, “CTPartners’ global platform is unmatched in the industry and will enable us to broaden our reach and continue to meet the growing needs of our clients.”

 

About CTPartners

 

CTPartners is a leading performance-driven executive search firm serving clients across the globe. Committed to a philosophy of partnering with its clients, CTPartners offers a proven record in C-Suite, senior executive, and board searches, as well as expertise serving private equity and venture capital firms.

 

With origins dating back to 1980, CTPartners serves clients with a global organization of more than 400 professionals and employees, offering expertise in board advisory services and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries. Headquartered in New York, CTPartners has 24 offices in 15 countries.