Cleveland, OH and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced the divestiture of Safe Aviation Solutions (“the Company”) from its portfolio company, the B&E Group, to StandardAero, a portfolio company of the Carlyle Group. Safe Aviation Solutions operated as the MRO Services Division of the B&E Group, providing comprehensive maintenance, repair, and overhaul of engine fuel system components, pneumatic / hydraulic / actuation systems, and aircraft power generation systems. Safe Aviation Solutions is based in South Florida and serves a global customer base of commercial airlines, freight companies, and OEMs.
Vin Misciagna, CEO of the B&E Group, remarked, “MPE’s strategic insights and steadfast support of Safe Aviation Solutions’ strategy allowed us to expand our capability set, access new markets and customers, and complete a transformational merger-of-equals.”
Charlie Rossetti, Principal at MPE, added, “We would like to thank the employees of Safe Aviation Solutions. We continue to be impressed by the strong company culture and employee dedication to the business and its customers.”
Peter Taft, Partner at MPE, said, “We are proud of the partnership we formed with Safe Aviation Solutions’ management team. Under their leadership the Company was able to grow revenue and profitability, expand its repair capabilities and addressable market, develop a strong and deep team, and integrate a successful acquisition, while continuing to meet customer demands every day.”
Houlihan Lokey advised the B&E Group on the transaction and Jones Day served as legal counsel. Terms of the transaction were not disclosed.
About the B&E Group
The B&E Group is a manufacturer of complex, precision machined aerospace and defense components and a provider of overhaul and repair services for commercial airlines. The B&E Group is headquartered in Southwick, MA (OEM) and Fort Myers, FL (MRO).
About Safe Aviation Solutions
The B&E Group’s MRO Services Division, Safe Aviation Solutions, provides repair and overhaul services with over 700 individually designed and approved repair procedures for commercial airline customers. Safe Aviation Solutions operates three repair facilities in South Florida and employs ~120 employees.
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 – $20 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.
Charlie Rossetti at email@example.com