Newington, CT – April 26, 2021
RFE Investment Partners (“RFE”), in partnership with 24/6 Capital Partners, has sold its portfolio company, PCX Aerosystems, LLC (“PCX” or the “Company”), to Greenbriar Equity Group, LP. (“Greenbriar”). As part of the acquisition, PCX completed the recently announced acquisition of Senior Operations LLC (“Senior Aerospace Connecticut”). The PCX management team will continue to lead the newly formed organization.
About PCX Aerosystems
PCX is a leading provider of flight-critical, life-limited, dynamic components and systems for demanding aerospace applications from facilities located in Newington and Enfield, CT. PCX manufactures complex structural hard alloy components and assemblies for military and commercial aircraft, with products including rotor hubs, tail rotor forks, drive shafts, and gearbox housings sold to OEM customers, including Boeing, Bell Helicopter, Sikorsky, GE, and the Department of Defense.
RFE acquired PCX in 2014 as a legacy division of SPX Corporation (NYSE: SPXC). Throughout its hold period, RFE and PCX installed key senior leadership and management team members, significantly invested in capital and facility improvements, refocused business development efforts, introduced cost saving measures and consolidated operations, and created an institutionalized metrics-based management through ERP and system upgrades. Concurrently with the sale, PCX further expanded its market leadership and manufacturing capabilities through the acquisition of Senior Aerospace Connecticut, a supplier of complementary rotorhead and transmission component offerings.
RFE and management worked seamlessly to build a proven acquisition platform with a unique production capability and comprehensive product portfolio, resulting in significant value creation and a successful sale process.
About RFE Investment Partners
RFE Investment Partners is a private equity firm focused on making control investments in established small market companies located in the United States. RFE is a long-standing Connecticut-based firm founded in 1980 with over 40 years of experience investing in the lower middle market. RFE’s investment strategy is to transform its portfolio companies from the lower end of the market to fully professionalized and market leading middle market companies. RFE is currently investing out of Fund IX. For more information, please visit www.rfeip.com.
RFE Investment Partners
36 Grove St
New Canaan, CT, 06840
(203) 966-2800
www.rfeip.com