Sell Side Advisor
Duff & Phelps Advised Black Diamond on its Sale of Aeromet to Privet Capital
In July 2015, funds managed by Black Diamond Capital Management, L.L.C. (“Black Diamond”) sold Aeromet International (“Aeromet” or “Company”), a leading UK based aerospace and defence manufacturer of structural cast components, to Privet Capital LLP (“Privet”).
Duff & Phelps provided corporate finance advice to Black Diamond on the sale of Aeromet by leveraging its aerospace and defence, and specialty materials expertise to run a highly competitive sale process. The Company was successfully sold to Privet, who will oversee the next phase in the development of the business.
About Black Diamond
Black Diamond is a credit-focused alternative investment firm founded in 1995 with assets under management of approximately $8.2 billion, as at 31 March 2015. The firm invests in performing, stressed and distressed opportunities across three complementary platforms: collateralised loan obligations, hedge funds and control distressed private equity funds.
Aeromet manufactures complex investment and sand castings for high-end applications that are supplied to the world’s largest OEM’s and tier one manufacturers. Headquartered in Kent, the Company employs c.280 employees across three fully equipped foundry sites in the UK. In addition to the core casting division, the Company’s materials technology division has pioneered a proprietary family of the strongest commercially available aluminium alloys (A20X) in the world, which further enhances the quality and performance standards within the aerospace and defence sector.
About Privet Capital
Privet is an independent private equity firm which specialises in middle market buyouts, growth buyouts and growth capital investments in the UK and internationally. Privet provides a dedicated team of operational specialists that partner with the management team to maximise efficiencies and growth potential. While sector agnostic, Privet has a notable interest in the aerospace sector, with recent investments including Thermal Engineering.