Houlihan Lokey is pleased to announce the sale of PAS Technologies, a portfolio company of KRG Capital Partners, to StandardAero, a portfolio company of Veritas Capital. Houlihan Lokey served as the financial advisor to PAS. The transaction closed on May 5, 2017.
PAS is a leading provider of OEM and aftermarket aerospace engine components that are exposed to high-wear, high-heat, and corrosive environments. The company has developed a "one-stop shop" business model, offering a comprehensive set of in-house manufacturing and innovative repair processes. PAS' strong partnerships with leading engine OEMs has culminated in industry-wide recognition and a substantial installed base of engine platforms including PW4000, LM2500, F117, F110, F414, V2500, and CFM56.
PAS currently operates from six facilities around the world, totaling nearly 400,000 square feet of operations at the following locations: Hillsboro, OH; Kansas City, MO; Phoenix, AZ; South Windsor, CT; Singapore; and Romania. The company employs nearly 500 people and is owned by KRG Capital Partners, a Denver-based private equity buyout firm focused on investing in growing and innovative "best-in-class" middle market companies.
StandardAero is one of the world's largest independent providers of services, including engine and airframe maintenance, repair, and overhaul; engine component repair; and engineering services. It serves a diverse array of customers in business and general aviation, airline, military, helicopter, components, energy, and VIP completions markets. StandardAero is owned by Veritas Capital, a leading private equity firm headquartered in New York City.
Houlihan Lokey's Aerospace•Defense•Government (ADG) Group is the leading M&A advisor to aerospace, defense, government services, and homeland security companies. Since 2015, we have closed more than 35 transactions totaling over $10 billion in enterprise value. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey's ADG Group is among the largest dedicated industry banking groups worldwide.