Location

Everett, WA

Industry

Aerospace & Transportation

Investment Status

Realized

Investment Date

Oct 2006

Realized Date

May 2012

Sold to

Court Square Capital Partners

Company Information (At Exit)

Investment Thesis

Platte River Value Add

Company Information (At Exit)

  • Supplier of components and subassemblies to the leading manufacturers of aircraft, aerostructures, aeroequipment and defense platforms
  • Seven manufacturing facilities located in Washington, California, Arizona, Massachusetts and Sonora (Mexico)

Investment Thesis

  • Industry: Global economic growth driving record order backlogs for new aircraft
  • Opportunity: Consolidate highly fragmented supply chain of specialized 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
  • Completed six acquisitions between 2006 and 2011
  • 15-fold increase in EBITDA under Platte River’s ownership as a result of acquisition strategy and organic growth initiatives
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