Houlihan Lokey is pleased to announce the sale of Fortner Engineering & Manufacturing (Fortner) to Wencor Group, a portfolio company of Warburg Pincus. The transaction closed on Friday, October 6, 2017.
Located in Glendale, California, Fortner is a leading hydraulic component maintenance, repair, and overhaul (MRO) aftermarket services provider for the commercial and military aerospace industry. Fortner specializes in the MRO of hydraulic actuation components via highly technical in-and-out-of-manual and designated engineering representative (DER) repairs. For decades, the company has leveraged its engineering expertise to build a broad suite of technical in-and-out-of-manual and DER repair capabilities. Fortner’s capability offerings include complex system components, such as flight control, landing gear, and thrust reverser actuation systems.
Wencor Group has been a trusted partner in aerospace for over 60 years, offering PMA design and development, CMM and DER repairs, and an extensive network of distribution solutions to help make flights safer and more cost effective. Wencor supports many commercial airlines, repair stations, and OEMs worldwide through its corporate affiliates: Wencor, Soundair Aviation Services, PHS/MWA Aviation Services, Aerospace Coatings International, Xtra Aerospace, Flight Line Products, Accessory Technologies Corporation, and Kitco Defense.
Houlihan Lokey's Aerospace•Defense•Government (ADG) Group is a leading M&A advisor to aerospace, defense, government services, and homeland security companies. Since 2015, we have closed more than 40 transactions worth nearly $11 billion in enterprise value collectively. 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.