Cadence Aerospace has acquired the OEM Manufacturing Division of the B&E Group, expanding its base of work for complex components for the aerospace and defense industry, strengthening its position in the supply chain, and adding new manufacturing space.
Terms of the deal were not disclosed.
The B&E Group, which is based in Massachusetts, manufactures complex, precision engineered engine components for the commercial and military aerospace markets, and works on key advanced engine programs including the LEAP and Geared Turbofan engine for commercial aircraft and F135 engine for the F-35 Joint Strike Fighter. The company has about 150 employees and 70,000 square feet of operations.
Cadence Aerospace, which is based in California, supplies components, subassemblies, and assemblies to manufacturers of aircraft, aerostructures, related equipment, engines, and other commercial aerospace and defense platforms. Cadence Aerospace is a portfolio company of Arlington Capital Partners.
“The acquisition of B&E builds on our investment thesis for Cadence by further expanding the company’s exposure to extremely complex and difficult to manufacture aerospace and defense components,” Peter Manos, a managing partner at Arlington Capital, said in a statement. “The combination of B&E and Cadence’s Tell Tool and ADM divisions creates one of the leading and most technologically sophisticated engine components manufacturers in the industry. Combined with Cadence’s position in complex structural components, this acquisition further positions Cadence as a critical leader in the aerospace and defense supply chain.”
Thomas Hutton, Cadence’s CEO, said in a statement that there are “numerous opportunities” for his company “to leverage its turnkey capabilities and low-cost country offerings at B&E and vice versa, which will make the combined business a more nimble and flexible organization for its customers.”
The B&E Group is a portfolio company of the private equity firm MPE Partners. Houlihan Lokey served as the financial adviser to B&E on the deal, which closed on Oct. 31.
Bob Quaglia, B&E’s president and chief operating officer, and his management team will continue to run the company as part of Cadence.