Crosslake Group sold the majority of its Aeromax Group platform, which includes Aeromax Industries, Continental Aircraft Support and K&S Enterprises, to a private equity buyer with experience in the aerospace and defense sectors.
Crosslake Group remains a minority equity participant and continues to provide senior management services to the platform.
The firm acquired the businesses at a blended entry valuation of 5.2x EBITDA, and it exited the combined platform at a multiple of 10.3x.
“We are incredibly proud of the transformation these businesses have undergone under our stewardship,” a Crosslake partner said. “The management teams at each company have built a foundation for long-term growth, and we’re confident that with our ongoing participation combined with both the resources and industry expertise of the new investor, the Aeromax Platform is well-positioned to achieve its next level of growth.”
Financial terms of the transaction were not disclosed.
Legal counsel for the sellers was Lewis Brisbois.
