Acorn Capital Management, a private equity firm focused on aerospace, defense, intelligence and space sectors, announced the successful closing of a single-asset continuation fund to extend and deepen its partnership with Sentry Aerospares. Kline Hill Partners and LSV Advisors co-led the transaction. Additional financial terms of the transaction were not disclosed.
Sentry Aerospares is a global leader in the distribution of high-value, hard-to-find commercial aircraft rotable components. In addition to providing a liquidity option to existing investors, the transaction secures additional capital commitments from new investors to augment and enhance Sentry’s growth strategies – both organic and M&A.
“We are thrilled to have completed this continuation fund transaction which not only provided existing investors with liquidity at a solid return profile but also affords Acorn the opportunity to extend and deepen its relationship with the Sentry management team and founders, each of whom remain significant shareholders,” commented Rick Nagel, Acorn’s managing partner.
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The continuation fund transaction follows Acorn’s original investment in Aerospares 2000 in December 2019 and its July 2022 merger with Sentry Aerospace, which rebranded as Sentry Aerospares in October 2022. Since then, the business has more than doubled and established itself as the leading independent stocking distributor of high-value, minimum equipment list rotables, with transatlantic stocking locations, and a client base of over 600 globally, including airlines, lessors, cargo operators, and MROs. Sentry is recognized for its leadership position in rapid Aircraft on Ground (“AOG”) support and unmatched inventory availability.
“The continuation fund transaction reflects our deep conviction in the value Sentry Aerospares brings to the global aviation aftermarket,” said Greg Agnew, partner at Acorn. “We are proud to continue our partnership with the management team and founders and look forward to accelerating Sentry’s already impressive momentum through strategic investment and expansion.”
SOURCE: PRNewswire