Denver based private equity firm Platte River Ventures on Monday announced the sale of its portfolio company, PRV Aerospace LLC, to an affiliate of Court Square Capital Partners, a private equity firm with headquarters in New York.
Headquartered in Everett, PRV Aerospace is an aerospace and defense group which supplies components, subassemblies and assemblies to manufacturers of aircraft, aero-equipment and other defense platforms. Made up 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 four aerospace operating companies it had acquired between 2006 and 2008, and PRV Aerospace subsequently completed two strategic add-on acquisitions in 2010 and last year.
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 during the sale.
Financial details of the sale were not disclosed.