Belcan Acquires AVISTA

CINCINNATI, Nov. 18, 2020 /PRNewswire/ -- Belcan, LLC ("Belcan"), a global supplier of engineering, supply chain, technical recruiting, and information technology (IT) services to the Aerospace, Defense, Automotive, Industrial, and Government services markets, announced today that it has acquired Avista, Inc. ("AVISTA" or the "Company"), a provider of safety-critical and mission-critical software engineering services to the world's leading OEMs in the aerospace, defense, industrial and medical industries. Terms of the transaction were not disclosed.

This marks the 16^th acquisition by Belcan under its ownership by AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AVISTA is being sold by TransDigm Group as part of their portfolio optimization efforts following the acquisition of Esterline Technologies in 2019.

For more than 30 years, AVISTA has provided safety-critical and mission-critical software engineering services spanning the entire development life cycle. The Company provides software engineering, verification and validation services, and certification support to the world's leading aerospace, defense, industrial and medical companies as well as government and military organizations. Headquartered in Platteville, Wisconsin, AVISTA also has facilities in Cedar Rapids, Iowa, and Blaine, Minnesota. AVISTA President Steven Ungs and the Company's management team will be joining Belcan.

"We're impressed with AVISTA's highly-skilled and experienced team who have long-standing relationships with their outstanding customer base," said Lance Kwasniewski, CEO of Belcan. "AVISTA and its engineers will add greater technical depth to Belcan's Systems and Software Engineering Group and provide us with a larger footprint in the Midwest. We welcome Steve and his team to Belcan."

"Becoming part of Belcan will allow us to expand our network and offer our customers a broader array of services," said Mr. Ungs. "We know that Belcan shares our strong commitment to excellent customer service, and we look forward to continuing the success that being part of a robust, thriving company has already brought us."

Kirkland & Ellis LLP served as legal advisor and PricewaterhouseCoopers LLP was the financial advisor to Belcan. BakerHostetler served as legal advisor and Seabury Securities was the financial advisor to TransDigm Group.

About Belcan

Belcan is a global supplier of engineering, supply chain, technical recruiting, and IT services to customers in the aerospace, defense, automotive, industrial, and government sectors. Belcan engineers better outcomes for customers – from jet engines, airframe, and avionics to heavy vehicles, automobiles, and cybersecurity. Belcan takes a partnering approach to provide solutions that are adaptable, integrated, and value-added, and has been earning the trust of its customers for over 60 years.  For more information, please visit www.belcan.com.

About AVISTA

Since 1987, AVISTA has provided safety-critical and mission-critical software engineering services to the world's leading OEMs in the aerospace, defense industrial and medical industries. With over 1,500 successful software projects completed, the Company has worked with leading aerospace and defense companies, as well as government and military organizations. For more information, please visit www.avistainc.com.

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investing. Learn more at www.aeroequity.com.

Contacts:
Lambert & Co.
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

SOURCE Belcan, LLC