Alantra completes fourth aerospace and industrial turbine components transaction in just 14 months
Date 11 November 2016
Type Investment Banking
Boston– Alantra, a global financial services and asset management group, is pleased to announce that the firm has closed its fourth Aerospace and Industrial Turbine transaction in the past fourteen months. These transactions involved buyers and sellers from the United States, the United Kingdom, Italy and Japan. The recent closings include:
• Sale of Flanagan Industries to EDAC Technologies Corporation, a portfolio company of Greenbriar Equity Group LLC
• Sale of Centrax Turbine Components to MB Aerospace, a portfolio company of The Blackstone Group
• Acquisition of New England Airfoil Products (NEAP) by Pietro Rosa
• Sale of Reliable Turbine Services to Fuji Electric Corporation
Alantra has a deep knowledge of the aerospace and industrial turbine components market. The team understands the complete supply chain and the manufacturing processes that are often employed, i.e.: casting, forging, conventional & nonconventional machining, coatings and special processes, to create these components. ALANTRA’s worldwide presence and extensive list of key senior-level industry contacts enable Alantra to bring together buyers and sellers across North America, Europe and Asia.
Sale of Flanagan Industries to EDAC Technologies Corporation, a portfolio company of Greenbriar Equity Group LLC
Based in Glastonbury, CT, Flanagan Industries is a manufacturer of large cases and rings for aerospace and industrial gas turbines. For 70 years, the company has specialized in complex machining of large thin-walled cases made from high temperature exotic super-alloys for leading OEMs including Pratt & Whitney, GE, and Siemens.
Sale of Centrax Turbine Components to MB Aerospace, a portfolio company of The Blackstone Group
Founded in 1946 and headquartered in Newton Abbot, UK, Centrax Turbine Components is one of the longest-running independent manufacturers of complex gas turbine airfoils in the world. The company supplies compressor airfoils and blisks, turbine airfoils and a range of other precision machined components to blue chip OEM manufacturers including Rolls Royce, Snecma, Solar and Siemens. Centrax Turbine Components will be renamed MB Aerospace Newton Abbot and will focus on robot-assisted machining, grinding and polishing of highly engineered components for aerospace gas turbines.
Acquisition of NEAP by Pietro Rosa
Pietro Rosa has acquired the assets of New England Airfoil Products (NEAP), from UK-based Doncasters Group. NEAP is focused on the machining of turbine and compressor airfoils for the power generation and aerospace industries. Its key OEM customers include Pratt & Whitney, GE, Honeywell, Rolls-Royce, Hamilton Sundstrand and Solar.
Sale of Reliable Turbine Services to Fuji Electric Corporation
Headquartered in Sullivan, Missouri, RTS is provider of turnkey turbine repair and maintenance for a variety of industries. The growing Open-Clean-Inspect-Close division provides a full spectrum of turbine & generator outage services. The Repair Services group specializes in on-site or facility-based refurbishment of OEM rotating and stationary components. The Generator Services group was introduced in 2013 to service a growing number of mature generator fleets. The company also manufacturers turbine replacement components including airfoils/blades/buckets, bolting, shafts, threaded inserts and valve parts.
Wade Aust, Managing Director & Partner
David Waldstein, Director
+1 617 482 6200