Newport Beach, CA – August 17, 2017 – JW Hill Capital announced today the acquisition of GKN Aerospace Bandy Machining, Inc. (“Bandy” or the “Company”), a subsidiary of GKN Aerospace. For over 50 years Bandy has been the leading producer of specialized hinges used in a wide variety of aerospace, defense, and industrial applications.
Located in Burbank, California, Bandy manufactures complex, close-tolerance hinges that are used on numerous commercial and military platforms. The Company’s expertise includes proprietary drilling processes that allow the Company to manufacture long hinge lengths at very tight tolerances across a variety of materials including titanium, aluminum, stainless steel and bronze. Customers rely on the Company’s expertise to handle complex aerospace parts. Bandy produces over 100,000 hinges per year.
“The Bandy team is excited to begin a new chapter as part of JW Hill Capital,” commented Steve Alexander, General Manager, Bandy. “Our partnership will bring a renewed focus to Bandy’s capabilities and strengths, with the vision to continue to grow the brand moving forward.”
“We are excited about partnering with the team to build on the legacy of the Bandy brand, said John Hill, Managing Partner, JW Hill Capital. “We look forward to expanding the capabilities of the business to serve the aerospace hinge market.”
DA Davidson served as financial advisor to JW Hill Capital on the transaction. The transaction closed on August 11, 2017. Financial terms of the transaction were not disclosed.
About JW Hill Capital
Based in Newport Beach, California, JW Hill Capital is a private equity firm that leverages its industry expertise and operating experience to acquire and grow lower-middle market manufacturing, value-add distribution, and industrial service companies. The firm focuses on corporate divestitures, owner liquidity, recapitalizations, management buy-outs, and both strategic and add-on acquisitions. It prefers companies between $2 million and $10 million EBITDA specializing in highly engineered components or products in aerospace, defense, nuclear, medical devices, or electronics, but will also target under-performing special situations where its operating expertise is relevant. More information can be found at www.jwhill.com.
GKN Aerospace is the world’s leading multi-technology tier 1 aerospace supplier. As a global company serving the world’s leading aircraft manufacturers, GKN Aerospace develops, builds and supplies an extensive range of advanced aerospace systems, components and technologies– for use in aircraft ranging from helicopters and business jets to the most used single aisle aircraft and the largest passenger planes in the world. Lightweight composites, additive manufacturing, innovative engine systems and smart transparencies help to reduce emissions and weight on the aircraft and enhance passenger comfort. GKN Aerospace is market leading in aerostructures, engine systems, transparencies and wiring systems and operates in 14 countries at 55 manufacturing locations employing approximately 18,000 people.