Investment Case Study: PRV Aerospace
- Supplier of components and subassemblies to the leading manufacturers of aircraft, aerostructures, aeroequipment and defense platforms.
- Manufacturing facilities located in Everett, WA; Tacoma, WA; Orange, CA; Torrance, CA; Phoenix, AZ; Westfield, MA; and Nogales, Mexico.
- Investment timeline
- Six acquisitions between 2006 and 2011
- Sold in May 2012 to Court Square Capital Partners
- Industry: Global economic growth is driving record order backlogs for new aircraft.
- Opportunity: Consolidate highly fragmented supply chain of aerospace parts manufacturers.
- Strategy: Create a supplier with a broad range of complementary capabilities in order to secure larger work statements from key customers and to become more valuable within the aerospace supply chain.
Platte River Value Add
- Utilized Platte River’s operating experience to assist management team in improving operations and sharing best practices across facilities.
- Leveraged industry contacts to identify and secure work on key aircraft platforms.
- Executed buy-and-build strategy to broaden customer and platform base and to take advantage of complementary capabilities.
- Under Platte River’s ownership PRV Aerospace grew profitability, organically and through acquisition, from the mid-single digits to nearly $50 million.