Private equity firm Resilience Capital Partners has acquired a majority stake in Aerospace Products International for an undisclosed amount.
Aerospace Products, headquartered in Memphis, Tenn., distributes aviation parts and equipment to manufacturers, maintenance providers and aircraft operators. The company also provides data and metrics that aim to help customers manage their businesses. Aerospace Products was owned by First Aviation Services Inc. (OTC: FAVS). Terms of the deal were not disclosed.
The deal is the sixth investment from the Resilience Fund III LP, which was closed in 2012 with $222.5 million in committed capital. Cleveland-based Resilience has also invested in Flight Options, an aviation company, in 2008. The firm’s other investments include Aero Communications Inc., which provides telecommunications infrastructure services, and CR Brands, a company that manufactures and markets private-label cleaning and laundry products. The firm has about $320 million in assets under management.