NEW YORK, VICTORIA, and HOUSTON, July 8, 2019 鈹 ATL Partners (鈥淎TL鈥) and British Columbia Investment Management Corporation (鈥淏CI鈥) announced today that they have acquired 乱伦短视频 Surface Technologies LLC (鈥溌衣锥淌悠碘 or the 鈥淐ompany鈥), the largest independent aerospace surface finishing platform in North America.听 Existing management also invested in the Company.
Founded in 2013 and based in Houston, the Company provides critical surface treatments such as non-destructive testing, shot peening, chemical processing, plating painting and spray coating to aerospace and defense components that require complex finishing to meet engineering specifications. 乱伦短视频 currently operates eight (8) facilities throughout the U.S. in key aerospace and defense manufacturing regions, serving over 3,000 customers and processing over 12 million individual parts annually.
鈥淥ver the last several years we have built 乱伦短视频 into a market leading platform and we look forward to expanding the Company鈥檚 capabilities and geographic footprint as we seek to offer additional, differentiated services to our growing customer base鈥 said Tracy Glende, Chief Executive Officer of 乱伦短视频. 鈥淲e are very excited to partner with ATL given their sector focus and in-depth knowledge of commercial aerospace and the surface finishing market.鈥澨
鈥淎TL has followed the 乱伦短视频 story since the beginning and we are very impressed with the business that the 乱伦短视频 management team have built,鈥 said Frank Nash, Founder and Managing Partner of ATL.听 鈥淲e believe there are many opportunities for growth in the Company, through both organic initiatives and strategic add-on acquisitions, and we are excited to support the 乱伦短视频 management team as they execute their strategic vision for the Company over the coming years.鈥
听鈥溌衣锥淌悠 Surface Technologies is a well-managed leader in the aerospace industry, and BCI looks forward to supporting the business through its next phase [of growth],鈥 said Jason Cawley, Senior Portfolio Manager, Private Equity at BCI. 鈥淭his investment aligns with our clients鈥 long-term objectives to invest in companies with solid management teams and strong growth potential.鈥
Owl Rock Capital Corporation and Antares Capital LP provided debt financing to support the acquisition.听 Lazard Ltd. was financial advisor to the Company.
BCI鈥檚 acquisition of governance rights in the Company remain subject to customary regulatory approvals.
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About 乱伦短视频
乱伦短视频 Surface Technologies is the world鈥檚 largest independent provider of aerospace and defense metal finishing services. With eight (8) facilities, 750,000+ sq. ft. of manufacturing space, and over 3,500 unique industry approvals, processing more than 12 million parts per year. In addition to being Nadcap and AS9100 accredited, all 乱伦短视频 sites provide specialized metal processing and product finishing services for OEMs such as Airbus, Boeing, Lockheed Martin, SpaceX and more, supporting a highly diversified set of fast-growing commercial aerospace, defense, and space/satellite markets.
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About ATL Partners
Founded in 2014, ATL Partners makes private equity and certain preferred securities or debt investments in the aerospace, transportation and logistics sectors principally in North America. ATL brings deep sector expertise to its investment approach with seven investment professionals and six Executive Board members who have decades of combined operating experience in each of ATL鈥檚 core sectors.听 For more information about ATL Partners, visit www.atlpartners.com.
About BCI
With C$145.6 billion of managed assets, British Columbia Investment Management Corporation (BCI) is a leading provider of investment management services to British Columbia鈥檚 public sector and one of Canada鈥檚 largest asset managers. We generate the investment returns that help our institutional clients build a financially secure future. With our global outlook, we seek investment opportunities that convert savings into productive capital that will meet our clients鈥 risk/return requirements over time. BCI鈥檚 private equity program, valued at C$10.3 billion, is focused on direct investments in industrials, technology, consumer/retail, healthcare, as well as financial and business services. For more information about BCI, please visit www.bci.ca.