Arcline Investment Management, a growth-oriented private equity firm, announced it has entered into a definitive agreement to acquire Novaria Group, a leading provider of engineered aerospace components and specialty processes, in an all-cash transaction with a total enterprise value of approximately $2.2 billion.
Founded in 2011 by CEO Bryan Perkins, Novaria has assembled a family of trusted suppliers that deliver exceptional performance for the aerospace and defense industry. The Company’s niche products support over 3,000 customers and can be found on virtually every Boeing and Airbus commercial aircraft in service.
Arcline commented, “Novaria has a proven track record of identifying, acquiring and growing niche aerospace product businesses that share a common culture rooted in innovation and customer service. We’re excited to partner with Bryan and the entire Novaria team to continue executing this strategy.”
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Mr. Perkins added, “Novaria is committed to building an enduring, trusted partner to the global aerospace industry. Arcline’s deep aerospace experience and growth mentality align perfectly with our long-term vision for Novaria.”
SOURCE: PRNewswire