(Cleveland, Ohio) Midwestern private equity firm CapitalWorks, LLC, has acquired Avtron Aerospace, Inc., from Morgenthaler Private Equity, the Cleveland and Boston-based private equity team focused on lower middle market buyouts. Terms of the transaction were not disclosed.
Avtron Aerospace is a leading designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. The company’s products and solutions serve blue chip customers across the entire aerospace supply chain including aircraft manufacturers, and aircraft component OEMs, commercial airlines, independent MRO providers and foreign and US military forces.
“Avtron Aerospace enjoys market leadership and a reputation for quality and reliability in the hydraulic and generator test equipment markets,” said Dick Hollington, managing partner of CapitalWorks. “It is positioned to capture an increasing share of the growing global aircraft market. We look forward to supporting their long-term vision.”
CapitalWorks is a family-focused private equity investor that encourages its knowledgeable and experienced entrepreneur and executive investors to participate in finding, vetting and owning companies.
“We acquire lower middle-market companies in the Greater Midwest and provide them the capital, support and freedom to grow, including the knowledge of our investor-partners,“ Hollington said.
Avtron Aerospace President and CEO John Pesec said the company “is excited about our new partnership with CapitalWorks. Their team and network can add substantial strategic value to our business due to their deep expertise in the aerospace industry.” Founded in 1953, Avtron Aerospace is located in Independence, Ohio with sales offices in Beijing, China.
CapitalWorks (capitalworks.net) is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with us in finding, vetting and owning companies. The firm acquires lower middle-market companies in the Greater Midwest and invests with a bias toward value and preservation of capital. Founded by Rob McCreary in 1999, the company is now managing its fourth fund. Offices are in the eastern suburbs of Cleveland, Ohio.
About Avtron Aerospace
Headquartered in Independence, Ohio, Avtron Aerospace (avtronaero.com) has been developing innovative test technology to support the needs of aircraft manufacturers, component OEMs, and MRO facilities worldwide. The Company is a leading designer and manufacturer of electrical, electronic and hydraulic aircraft component test solutions for the global commercial and military aerospace markets. Avtron Aerospace employs approximately 110 people in its manufacturing facility in Ohio.
CapitalWorks Media Contact
Dick Hollington, 216-472-5530; firstname.lastname@example.org