Tailwind Technologies has sold Hartzell Aerospace to ITT Corporation
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Tailwind Technologies, Inc. (“Tailwind”) has sold Hartzell Aerospace (the “Company”) to ITT Corporation (“ITT”). Terms of the acquisition were not disclosed.
Based in California, Hartzell Aerospace is a leading manufacturer of highly-engineered components and solutions for aerospace environmental control systems on a wide range of high-growth, next-generation aircraft platforms. The Company provides a variety of environmental control system components, including products that provide noise attenuation, freeze protection and de-ice protection, as well as a wide variety of hoses, connectors and products made with composite material. Hartzell Aerospace has about 240 employees with production facilities in Valencia and Perris, California.
“The acquisition of Hartzell Aerospace will unlock powerful new opportunities for ITT to expand its presence on new and existing platforms in the global aerospace industry,” said Denise Ramos, Chief Executive Officer and President of ITT. “The addition of Hartzell Aerospace’s high-quality portfolio and innovative technologies will broaden our capabilities, enhance our ability to serve customers and help further position ITT as a leader in the aerospace market.”
Lincoln acted as the exclusive financial advisor to Tailwind and Hartzell Aerospace, working closely with the Company’s owners and management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing and due diligence phases of the transaction. Jim Brown III, President and Co-Owner of Tailwind, noted, “Lincoln International brought together business model and end market expertise to create a dynamic process that emphasized Hartzell Aerospace’s differentiating characteristics and strong value proposition. Lincoln’s guidance and thoughtful advice were invaluable in securing a successful transaction for Tailwind and Hartzell Aerospace.”
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