Synchronous Aerospace Group, a portfolio company of Littlejohn & Co., has acquired Helicomb International Inc., a Tulsa, Okla.-based provider of aerospace composite structures. No pricing terms were disclosed for the deal, which included equity financing from Littlejohn and debt financing from Jefferies Finance.
GREENWICH, CT, January 7, 2009 – Littlejohn & Co., LLC, a private investment firm that applies an operational approach to building middle-market companies, today announced that its portfolio company Synchronous Aerospace Group has acquired Helicomb International, Inc., a leading provider of aerospace composite structures.
Founded in 1981 and based in Tulsa, OK, Helicomb produces commercial and military aircraft structures manufactured from a broad range of composite and metal-bonded materials for leading aerospace manufacturers, Tier 1 suppliers and overhaul service providers.
Mark Heasley, President and Chief Executive Officer of Synchronous, said, “We are very pleased to be working with our investment partners at Littlejohn who continue to provide expertise and resources to grow our company and are helping to identify acquisition opportunities that will strengthen and broaden our product offerings. We are confident that Helicomb’s deep technical composites expertise will offer Synchronous’ customers an attractive complement to our existing metals capabilities.”
Edmund J. Feeley, Managing Director of Littlejohn & Co. and a member of the Synchronous Board of Directors, said, “We are very pleased with the performance of Synchronous to date and the advancements the management team is making in building its business. This strategic acquisition is consistent with our growth plans and we will continue to identify strong companies that will further solidify Synchronous’s position as a key supplier to the commercial and defense aerospace industries. Despite a challenging deal environment, strategically oriented operational investors such as Littlejohn can still complete transactions.”
Equity financing for the transaction was provided by Littlejohn Fund III, L.P. Debt financing was provided by Jefferies Finance LLC.
About Synchronous Aerospace Group
Synchronous is a Santa Ana, CA based leading provider of flight-critical machined aluminum and hard-metal parts; integrated kits and assemblies; composite, metallic and metal-bonded airframe structures; and systems details to the commercial, fixed- and rotary-wing military, and space markets. The Company’s products span the entire body of an aircraft, including the wing, airframe, engine and fuselage. Synchronous sells to leading aerospace original equipment manufacturers, Tier I suppliers and key MRO service providers from facilities strategically located throughout the United States.
About Littlejohn & Co., LLC
Littlejohn & Co., LLC is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in the middle-market sector that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm’s professionals manage three funds with committed capital of approximately $1.6 billion. The firm is currently investing from Littlejohn Fund III, L.P. which has $850 million in capital commitments. For more information, visit www.littlejohnllc.com, or Littlejohn can be reached at 203-552-3500.