NetComposites
Airtech

AGC Aerospace & Defense Expands International Portfolio with Acquisition of Tods

16 July 2013

Acorn Growth Companies (AGC) and The Edgewater Funds have partnered to acquire U.K. based Tods Aerospace & Defence.

AGC say the acquisition will look to further expand the design, engineering and manufacturing capabilities of AGC Composites and Aerostructures, which is a component of AGC Aerospace & Defense.  Tods Aerospace & Defence specialises in the engineering, design and manufacture of advanced materials technology for aerospace and naval acoustic structures.

“This transaction is another exciting step in our global growth strategy,” stated Rick Nagel, Acorn Growth Companies Partner. “Tods’ sophisticated engineering, design and build experience will further complement our capabilities and also strengthens and diversifies our existing customer base.”

“This addition will lead to further group innovation, efficiencies and ultimately create a higher value partnership with our customers,” said Rick Armstrong, President and CEO of AGC Composites and Aerostructures.  “Tods will play an integral role in the strategic advancement of our group platform as we further penetrate the European, Middle East and Asian marketplaces.”

“By joining such an innovative and strategically focused team, Tods will become a more resourceful strategic partner to our customers, and also be better positioned to address significant market trends,” added Simon Finch, President of Tods Aerospace & Defence.

The acquisition marks the second international joint venture between Acorn Growth Companies and The Edgewater Funds and the third overall partnership in the last year.  Tods Aerospace & Defence will become the fifth business to be consolidated into AGC Composites and Aerostructures.

Caltius Capital Management and PNC Bank provided debt financing for the transaction. Lincoln International represented the buyer.

The Tods executive team will be integrated into AGC Composites and Aerostructures and do business as Tods Composite Solutions, an AGC Aerospace and Defense Company.  Details of the transaction were not disclosed.






Related / You might like...

Alvant Supports £28m Safran-Led Aircraft Landing Gear Project

Alvant has been appointed to work on a two-year, £28 million project titled Large Landing Gear of the Future, which aims to deliver a 30% weight reduction and assist the aerospace industry’s drive to reduce fuel consumption and carbon emissions.

3D Printed Drone Prototype Wins Red Dot 2018 Design Award

Hexadrone’s 3D printed Tundra prototype, manufactured by CRP Technology via laser sintering (LS) technology using Windform SP and Windform XT 2.0 carbon composite materials, has won the Red Dot Award 2018 in the drone category.

Norco Composites Invests in New Equipment

UK company Norco Composites has invested in a larger spray booth and a new cutting and kitting machine to enable the company to increase productivity in line with growing demand from its marine customers.