Acorn Growth Companies, a private equity firm investing in aerospace and defense, has acquired aircraft company Raisbeck Engineering Inc. headquartered in Seattle, WA, the company said.
Founded in 1982 by aeronautical engineer and entrepreneur James D. Raisbeck, Raisbeck Engineering develops, markets and manufactures improvement systems for commercial and general aviation aircraft models.
Under the agreement, Raisbeck Engineering will continue to operate under its brand and build upon its track record of delivering its current suite of engineered products while seeking to leverage distribution channels for other products that complement and meet Raisbeck´s performance standards.
This is Acorn Growth Companies´ first acquisition under its fourth private equity fund. Participating parties included Congruent Investment Partners, Independent Bankers Capital Funds, Omega Capital and Arvest Bank.
Congruent manages investment funds with long term capital that make lower middle market mezzanine and equity investments of USD5.0mm to USD40.0mm across a broad range of industries.