Arcline Investment Management, a growth-oriented private equity firm, announced it has entered into a definitive agreement to acquire Fort Worth-based Novaria Group in an all-cash transaction valued at approximately $2.2 billion, according to a press release.
Founded in 2011 by CEO Bryan Perkins, privately-owned Novaria is a leading provider of engineered aerospace components and specialty processes serving more than 3,000 customers worldwide. Its niche products can be found on nearly every Boeing and Airbus commercial aircraft in service.
“Novaria has a proven track record of identifying, acquiring and growing niche aerospace product businesses that share a common culture rooted in innovation and customer service,” Arcline company officials said in a statement. “We’re excited to partner with Bryan and the entire Novaria team to continue executing this strategy.”
Guggenheim Securities served as financial adviser, and Ropes & Gray LLP and Paul Hastings LLP served as legal advisers to Arcline.
“Novaria is committed to building an enduring, trusted partner to the global aerospace industry,” Perkins said. “Arcline’s deep aerospace experience and growth mentality align perfectly with our long-term vision for Novaria.”
Arcline Investment Management oversees more than $20 billion in assets under management and focuses on building market-leading, non-disruptible industrial platforms. It is headquartered in Nashville, with offices in New York and San Francisco.