JW Hill Capital has acquired GKN Aerospace Bandy Machining, Inc., a subsidiary of GKN Aerospace, the company said.
For over 50 years, Bandy has been the producer of specialized hinges used in a wide variety of aerospace, defense and industrial applications.
Located in Burbank, California, Bandy manufactures complex, close-tolerance hinges that are used on numerous commercial and military platforms. The company´s expertise includes proprietary drilling processes that allow the company to manufacture long hinge lengths at very tight tolerances across a variety of materials including titanium, aluminum, stainless steel and bronze. Customers rely on the company´s expertise to handle complex aerospace parts. Bandy produces over 100,000 hinges per year.
DA Davidson served as financial advisor to JW Hill Capital on the transaction. The transaction closed on August 11, 2017.
Financial terms of the transaction were not disclosed.
Based in Newport Beach, California, JW Hill Capital is a private equity firm that leverages its industry expertise and operating experience to acquire and grow lower-middle market manufacturing, value-add distribution, and industrial service companies. The firm focuses on corporate divestitures, owner liquidity, recapitalizations, management buy-outs, and both strategic and add-on acquisitions. It prefers companies between USD 2 million and USD 10 million EBITDA specializing in highly engineered components or products in aerospace, defense, nuclear, medical devices, or electronics, but will also target under-performing special situations where its operating expertise is relevant.