Golden Gate Capital, a San Francsico private equity firm with over $15 billion in committed capital, has acquired aircraft ground support equipment provider Tronair Parent, Inc. from Levine Leichtman Capital Partners. Terms of the deal were not disclosed.
Tronair, based in Holland, Ohio, makes ground support equipment for business, commercial and military aircraft. Customers include: Airbus, Boeing (NYSE:BA), Bombardier, Embraer and Gulfstream.
San Francisco-based Golden Gate holds investments in more than 35 companies across six industry sectors that include: industrials, financial services, software, semi-conductors and IT hardware, retail and restaurants, and information technology and business services. The San Francisco-based private equity firm seeks out “change-intensive investments” in order improve a company’s “earnings by catalyzing strategic and operational change,” according to the firm. In 2015, Golden Gate-backed Nassau Reinsurance Group agreed to purchasea life insurance business for $217.2 million.
Recent deals involving suppliers to aerospace and automobile makers include Liberty Hall picking up ZTM Inc. to integrate with its portfolio company Accurus Aerospace Corp.; Platte River Equity acquiring airplane engine tester CTS Engines; and AE Industrial purchasing Moeller Mfg. Co. LLC after closing its debut fund valued at $680 million.
Houlihan Lokey Inc. (NYSE: HLI) served as financial adviser to Golden Gate.