PRV Aerospace, LLC, yesterday said it has acquired Astro Spar, Inc., expanding its base of customers and products in the commercial aerospace market.
Terms of the deal were not disclosed. PRV is a portfolio company of the private equity firm Court Square Capital Partners.
California-based Astro Spar is a manufacturer of long, complex, precision-machined components and assemblies for the commercial and military aerospace industries. Its customers include Boeing [BA], Lockheed Martin [LMT], Turkish Aerospace Industries, Spirit Aerosystems [SPR], Textron’s [TXT] Cessna division and others.
“The capabilities of Astro Spar, its aircraft platform positions, the strength of the management team and a strong presence in the commercial aerospace market fit well with our existing businesses and overall strategic direction,” Richard Wood, CEO of PRV Aerospace, said in a statement.
PRV makes aerospace structures and components for the fuselage, interiors, wings, engines, empennage and landing gear for defense and commercial aerospace customers.
Astro Spar’s senior management will remain with the company.
Janes Capital Partners was the financial adviser to Astro Spar on the deal. AeroAdvisory, LLC provided due diligence support to PRV.