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Acorn Growth Companies, a middle market private equity firm investing exclusively in aerospace and defense, has completed the acquisition of Aerospheres (UK), a chemical and composite repair supplier to the commercial airline and MRO markets.
Acquisition will provide global access to commercial airlines and Maintenance, Repair and Overhaul (MRO) markets.Located 12 miles from Heathrow International Airport, Aerospheres (UK) services over 650 airlines and maintenance outlets around the world. The company has an impressive capability & inventory of over 14,000 chemicals and composite repair supplies and maintains quality approvals from the largest names in the commercial airline and MRO industry."Aerospheres aligns perfectly with our broad market strategy and is an excellent fit in our portfolio to drive greater growth and long term sustainability for MRO and niche-distribution businesses.” said Rick Nagel, Managing Partner, Acorn Growth Companies. "This acquisition demonstrates our commitment to prudently deploy capital while leveraging existing portfolio synergies that exist today with AGC AeroComposites, APSE, and Valair."Aerospheres (UK) was founded in 1991 by Ben Nemenyi, who led the company’s successful journey to become a worldwide supplier to the aerospace industry. Mr. Nemenyi will continue to serve as Managing Director and will partner with Acorn’s operational team to continue the company’s strong legacy and entrepreneurial spirit.Acorn Growth Companies operates its portfolio of companies under the AGC Aerospace & Defense brand positioning itself as a global supplier of technologies, systems and services supporting key commercial and military programs. Capabilities within the AGC Aerospace & Defense portfolio include: engineering, integration services, manufacturing, logistics, MRO, modifications, and aircraft finance and leasing.More information: www.agcaerospace.com