J.F. Lehman & Company (JFL) has acquired CTS Engines LLC and CTS Testing LLC.
Florida-based CTS provides maintenance services for aircraft engines. “CTS has built an excellent reputation as a leading independent aircraft engine MRO service provider and is a strong addition to JFL portfolio of companies,” says JFL partner Steve Brooks. “CTS’s high quality customer service, well-differentiated value proposition, and talented workforce reflect core characteristics we seek in our investments.” Middle-market private equity firm JFLCO focuses on the aerospace, defense, maritime, government and environmental sectors.
Barings Finance and Siemens Financial Services are providing debt financing. Jones Day is serving as legal counsel for JFLCO. Baker Hostetler is acting as advisor to JFLCO. William Blair is financial advisor to CTS, and Lincoln International is co-advisor. Bartlit Beck is legal counsel to CTS and the selling equityholders.