Nautic Partners, LLC said it has partnered with management to acquire Aerostar Aerospace Manufacturing, LLC.
Aerostar is a manufacturer of high-complexity, close-tolerance machined parts used in commercial aircraft, primarily in engines and in auxiliary power units. Terms of the transaction were not disclosed.
Headquartered in Phoenix, AZ, Aerostar has developed a niche in manufacturing high-complexity parts using challenging materials such as titanium, Inconel, and other hard-metal alloys.
In conjunction with Nautic´s investment in Aerostar, the company will be undertaking a strategic expansion and capital plan, moving to a new 55,000 sq. ft. facility that is a quarter mile from its current campus and also investing in state of the art equipment to nearly double production capacity over the coming years.
National Bank of Arizona provided financing for the transaction. Greene Holcomb and Fischer acted as financial advisor to the company.
Aerostar Aerospace Manufacturing, LLC is an AS9100, ISO9001 precision component manufacturer of machined parts used in commercial aircraft, primarily in engines and in auxiliary power units.
Founded in 1986, Nautic is a middle-market private equity firm that has managed over USD3 billion of assets throughout its history.