Private equity firm Stellex Capital Management has acquired Los Angeles-based complex machine components manufacturer RTC Aerospace.
RTC Aerospace manufactures complex machine components for military aircraft, commercial and other aerospace and defence applications. The company operates from different locations including Chatsworth, California, and Fife.
The financial terms of the transaction between the two companies were not disclosed.
According to the deal, investor and RTC Aerospace executive Brad Hart will remain as the board member of the company.
Other terms of acquisition involve Stellex collaborating with aerospace and defence executive Dave Herr to offer an acquisition-related growth strategy.
Stellex managing director David Waxman said: “RTC is a critical partner to its customers, meeting the stringent quality and delivery requirements of premier military and commercial programs.
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“We are excited to provide our capital and resources to support RTC’s contemplated organic and strategic M&A-focused expansion plan.
“Our goal is to materially expand RTC’s market presence and continue being a trusted, industry-leading partner on blue-chip military and commercial platforms.”
According to Stellex, US-based international law firm Greenberg Traurig has provided legal support to the company during the process of this transaction.
Besides, the commercial due diligence of Stellex for the acquisition was handled by Arena Strategic Advisors.
With offices in New York, Pittsburgh, London, and Detroit, Stellex majorly focuses on the aerospace and defence domain, speciality manufacturing sector, government services, and various other sectors.
RTC Aerospace CEO Michael Vincent said: “Our vision is to become a viable closed-loop manufacturer of precision components in the commercial aerospace and defence space.”