Cincinnati, Ohio – April 6, 2017 – Belcan, LLC (“Belcan”), a global supplier of
engineering, technical recruiting, and information technology (IT) services to the
aerospace, defense, industrial, and government services markets, announced today that it
has entered into an agreement to acquire Schafer Corporation (“Schafer”) from
Metalmark Capital Partners. The transaction is expected to close in the second quarter of 2017. Belcan is a portfolio company of AE Industrial Partners, LLC (“AEI”), a private
investor in aerospace, power generation, and specialty industrial companies.
Since 1972, Schafer Corporation has been a leading provider of scientific, engineering,
and technical services to numerous military and civil government agencies. Schafer
employs more than 400 experts worldwide in areas such as CBRNE (chemical,
biological, radiological, and nuclear defense), space systems, air and missile defense,
micro materials, and cybersecurity.
“Belcan is building an unrivaled array of engineering and IT capabilities, and Schafer is
the latest acquisition to support this global initiative,” said Lance Kwasniewski, Chief
Executive Officer of Belcan. “Schafer represents a tremendous addition to our
Government Services business, which helps governments and institutions worldwide
support mission-critical tasks.”
“Schafer is excited to join the Belcan family, we believe the combination brings exciting
growth opportunities as our expertise and services are a perfect fit,” said Michael Griffin,
Chairman and Chief Executive Officer of Schafer Corporation. “With Belcan’s support
and capabilities, we will be able to further expand our services and reach, which is
critical to meet the growing demand of our customers across the globe.”
“With five acquisitions in less than 18 months, Belcan has demonstrated an unrelenting
commitment to expanding its capabilities and footprint,” said David H. Rowe, Managing
Partner of AEI. “We are proud to have helped Belcan grow to become an undisputed
leader in the markets it serves.”
PricewaterhouseCoopers LLP served as financial advisor to Belcan and AE Industrial
Partners. Raymond James & Associates, Inc. served as financial advisor to Schafer and
Metalmark Capital.
About Belcan
Belcan is a global supplier of engineering, technical recruiting, and IT services to
customers in the aerospace, defense, industrial, and government sectors. Belcan engineers
better outcomes through adaptive and integrated services. From jet engines, airframe, and
avionics to heavy vehicles, chemical processing, and cybersecurity, Belcan takes a
partnering approach to provide customer-driven solutions that are flexible, scalable, and
cost-effective. Belcan’s unique capabilities have led to continuous growth and success for
nearly 60 years. For more information, please visit www.belcan.com.
About Schafer Corporation
Schafer Corporation is a leading provider of scientific, engineering, and technical
services and products applied to defeating national security threats. The company
provides innovative engineering and technology solutions to the military, intelligence
community, DHS, NASA, and others. The Company has been widely recognized for its
technical expertise and ability to provide objective analysis that leads to the development
of innovative, problem-solving solutions. For more information, please visit
http://www.schafercorp.com/
About AE Industrial Partners
AE Industrial Partners, LLC is a leading private investment firm in the aerospace, power
generation and specialty industrial sectors, focusing on highly technical manufacturing,
distribution and supply chain management, MRO (maintenance, repair, and overhaul) and
industrial service-based businesses. AE Industrial’s team includes partners with C-suite
operating experience in organizations such as GE, Gulfstream Aerospace, Power Systems
Manufacturing, Hawker Beechcraft, Landmark Aviation, Bombardier, Aviall, B/E
Aerospace, NetJets, and Grand Prairie. For more information, please visit
www.aeroequity.com.
About Metalmark Capital Partners
Metalmark Capital is a leading private equity firm that seeks to build long-term value
through active and collaborative partnerships with business owners, founders and
executives. The Firm focuses its investment activity in energy, agribusiness, growth
industrials and healthcare. Metalmark Capital manages funds with $3.7 billion in
aggregate capital commitments. For more information, please visit
www.metalmarkcapital.com.
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CONTACT: Owen Blicksilver Public Relations
Carol Makovich
(203) 622-4781
carol@blicksilverpr.com
Jennifer Hurson
(845) 507-0571
jennifer@blicksilverpr.com