Private equity firm AE Industrial Partners LLC is buying engineering services business Belcan Corp.
Belcan, headquartered in Cincinnati, provides engineering and technical staffing services to the aerospace, power generation and industrial markets. Terms of the deal were not disclosed.
Boca Raton, Florida-based AE invests in aerospace, power generation and specialty industrial companies. The firm's investments include aerospace business Kellstrom Industries, aerospace-management services company Wesco Aircraft and Sequa Corp., an aerospace and metal coatings business.
Kirkland & Ellis LLP provided legal advice and PwC acted as financial adviser to AE on the deal.
The aerospace sector has hosted several transactions recently, including L-3 Communications (NYSE: LLL) deal for pilot training program CTC Aviation Group, and Veritas Capital's acquisition of StandardAero.