CLEVELAND and BOSTON, Aug. 10, 2017 /PRNewswire/ -- MPE Partners ("MPE" or "Morgenthaler Private Equity") announced today the recapitalization of Safe Fuel Systems, Inc. ("SFS" or "the Company"), a FAA/EASA certified component repair station engaged in the maintenance, inspection, and repair of aircraft components. SFS has merged with the MRO business unit of MPE's existing portfolio company, B&E Group ("B&E"). The combined companies will operate under the name SAFE Aviation Solutions, and together are a leading independent repair shop for airframe and engine fuel components.
MPE and B&E partnered in the transaction with SFS founders Rafael Fuentes and Ann Justiz, who will both continue to manage the daily operations of SFS. Charlie Rossetti, Vice President at MPE, said, "We are highly impressed with the operations at Safe Fuel Systems and the culture that Ann and Rafael have developed over the last 16 years. We look forward to partnering with them as they continue to build upon their past successes."
Rafael Fuentes added, "Ann and I chose to partner with MPE and B&E as they are aligned with our values and our mission of serving our customers and one another with the highest level of integrity and respect. We are thrilled to embark on the next stage in Safe Fuel Systems' growth as part of the B&E Group."
Vin Misciagna, Chief Executive Officer of B&E Group, added, "The combination of Safe Fuel Systems and B&E's MRO business unit will offer our customers nose-to-tail repair capabilities while providing exemplary customer service."
Twin Brook Capital Funding LLC provided senior debt financing to support the transaction. Corporate Finance Associates acted as financial advisor to SFS.
About Safe Fuel Systems
Founded in 2001 and headquartered in Hialeah, Florida, Safe Fuel Systems is a FAA/EASA certified component repair station engaged in the maintenance, repair, inspection and alteration of aircraft components and parts for major domestic and international operators.
About B&E Group
Headquartered in Southwick, Massachusetts and Fort Myers, Florida, B&E Group is comprised of two distinct business units, a maintenance, repair and overhaul ("MRO") group and an original equipment manufacturing ("OEM") group. The company's OEM group manufactures complex, machined components used in commercial aerospace, military and space applications. The company's MRO group provides repair and overhaul services with over 700 individually designed and approved repair procedures for commercial airline customers.
About MPE Partners
MPE Partners ("MPE" or "Morgenthaler Private Equity") seeks to be the preferred partner for entrepreneur and family-owned companies. Based in Cleveland, OH and Boston, MA, MPE invests in profitable, lower middle market companies with EBITDA between $5 - $20 million. MPE has two primary investment areas: high-value manufacturing and industrial services. For more information, please visit www.mpepartners.com.