Acorn Growth Companies’ Portfolio Company Aerospares 2000 announces its merger with Sentry Aerospace
July 11, 2022
OKLAHOMA CITY; WATFORD, UK; MORGANVILLE, NJ — Aerospares 2000 Limited (Aerospares), an Acorn Growth Company, today announced the recent completion of its merger with Sentry Aerospace Corporation (Sentry). The combination of Aerospares and Sentry creates a leading independent stocking distributor of high value, hard-to-find commercial aircraft rotable components with global reach and some of the broadest and deepest customer and vendor relationships in the industry. The combined company maintains a significant inventory of factory new and used serviceable material across its global locations to serve its customers most urgent needs, particularly aircraft on ground (AOG) requirements. Further, the company has tremendous financial flexibility and access to capital to support its customers’ aircraft material needs as the global aviation market continues its strong recovery.
Headquartered in Morganville, New Jersey, within close proximity to metro New York and Philadelphia airports, Sentry is a leading global stockist of commercial aircraft spare parts covering the full range of AOG components, including avionics, escape slides, life rafts and ram air turbines for all major commercial aviation platforms. Sentry was founded in 1975 by Tony DiSimone, Sr. who will serve as Executive Chairman of the combined company.
“Sentry is a leader in the aerospace aftermarket with a highly focused stocking strategy, deep vendor and sourcing relationships, and a sterling reputation,” said Rick Nagel, Acorn Growth Companies’ (Acorn) Managing Partner. “Given the similarities in the business strategies and corporate cultures, limited inventory overlap, and the longstanding deep personal relationships between Aerospares’ and Sentry’s principals, the merger was a natural combination and one that will benefit all constituencies, particularly our customers. The merger of these two outstanding companies creates a tremendous platform for growth in the aerospace aftermarket, which we believe can be further augmented by the resources that Acorn will contribute.”
“We are very excited to be partnering with Aerospares and Acorn,” said Tony DiSimone, Sr. “The combination of Aerospares and Sentry represents a powerhouse in the market with a unique and difficult to replicate inventory.”
Headquartered in greater London, England, within close proximity to all major London airports, Aerospares specializes in identifying, procuring, and stocking the most demanded and hard-to-find rotables for the latest generation aircraft platforms, with a focus on minimum equipment list parts that are ready to ship 24/7. As a result, approximately 90% of Aerospares’ sales are in support of AOG situations.
Adam Nemenyi will serve as Chief Executive Officer of the combined company with Tony DiSimone, Jr. and Chris DiSimone serving as Co-Presidents of U.S. operations. Martin Coleman will continue to serve as Chief Financial Officer of the group. All Aerospares and Sentry personnel will remain with the group.
“We look forward to teaming up with an exceptional partner such as Sentry, which brings an unmatched network and reputation,” said Adam Nemenyi, Aerospares 2000 Ltd. CEO. “The growth and commercial synergies of this combination are innumerable. Together, we believe we can exponentially expand our business and offer enhanced support to our global customer base in our current locations, as well as through geographic expansion.”
This transaction represents Acorn’s first investment in its recently raised fifth investment fund. Terms of the merger were not disclosed.
Bridgepoint Credit and Wells Fargo Capital Finance (UK) provided credit financing in connection with the transaction. Hartzog Conger Cason and Irwin Mitchell provided legal support to Acorn and Aerospares. Sentry received financial advisory services from XLCS Partners and legal support from Witman Stadtmauer, Greenberg Dauber Epstein & Tucker, and Sills & Betteridge.
Acorn Growth Companies is a middle market private equity firm investing exclusively in Aerospace, Defense, Intelligence, and Space opportunities. Acorn invests solely in businesses that enhance global mobility and strengthen national security. With operational expertise and its ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders. www.AcornGrowthCompanies.com
Aerospares 2000 Limited is one of the foremost aftermarket suppliers of aircraft spare-parts. The company supports more than 350 customers world-wide, including many of the world’s leading airlines, cargo operators, leasing companies and MROs who have entrusted Aerospares 2000 to provide around the clock spare-parts support particularly on an AOG basis. Aerospares 2000.com
Sentry Aerospace Corporation is a leading aviation aftermarket distributor or aircraft rotable components with a leading presence in supporting the aftermarket for aviation inflatable products, such as evacuation slides and rafts. Founded in 1975, Sentry is headquartered in Morganville, New Jersey. http://www.sentryaerospace.com/index.html
Brandon Bradford, Acorn
Anthony Triana, Saxum