Arcline Investment Management has picked up a controlling stake in aircraft heater and air conditioner specialist Air Comm Corp in a deal which values the business at $250m.
Air Comm designs, manufactures, and services environmental control systems, thermal management systems and other accessories for the aerospace and defense industry.
The company serves a global customer base of leading OEMs, fleets, and aftermarket service providers from its manufacturing facility in Colorado.
A statement from Arcline said, “The whole ACC team has done an impressive job building a scaled business offering high-quality, differentiated ECS solutions to meet demanding needs of OEM and aftermarket customers in the general aviation and rotary aircraft end-markets.
“We believe that the company’s strong market positioning, growth-oriented culture and high-quality product offering make it a great fit within the Arcline portfolio.”
We are excited to partner with Dave to execute on our shared strategic plan for organic and inorganic growth.”
Arcline continued its striking entry into the private equity market by hauling in $2.75bn for its second fund at the start of this year – just two years after its impressive $1.5bn debut fundraise.
The firm, which was launched by former Golden Gate Capital managing director Rajeev Amara, secured the largest debut fundraise for North American vehicle in nearly a decade – and scored almost double that total for Fund II.
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