EL SEGUNDO, Calif. & OKLAHOMA CITY--(BUSINESS WIRE)--FDH, a portfolio company of Audax Private Equity (“Audax”), announced today that it has acquired Aerospheres UK Ltd. (“Aerospheres”) from Acorn Growth Companies (“Acorn”). Based in Harrow, U.K., Aerospheres is a value-added distributor of aerospace aftermarket chemicals, composites and other consumable materials for maintenance applications and MRO service providers. Aerospheres broadens FDH’s aftermarket presence into the chemicals space and expands FDH’s international footprint, servicing 85 countries.
“Aerospheres is a leader in the aftermarket chemicals and consumables space. We’re thrilled to work with Paul and his team to expand our aftermarket product offering globally,” said Scott Tucker, CEO of FDH.
“We are excited to be joining Scott and the FDH team as we continue to grow our combined business,” commented Paul Thompson, CEO of Aerospheres. “Through this partnership, we plan to accelerate our growth trajectory while continuing to provide the same exceptional levels of service to our customers.”
Aerospheres is FDH’s fifth acquisition, and the third completed since Audax invested in the company in 2017.
FDH is a leading distributor of c-class hardware and replacement parts to commercial and defense aircraft manufacturers, subcontractors, component distributors, and MRO/aftermarket solution providers. FDH is headquartered in El Segundo, CA and has operations across North America, Europe and Asia. For more information, please visit www.fdhaero.com.
ABOUT AUDAX PRIVATE EQUITY
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $26 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in more than 130 platforms and 800 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 240 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website www.audaxgroup.com.
Acorn Growth Companies is a middle market private equity firm focused exclusively on Aerospace, Defense and Intelligence. Acorn invests solely in operating companies that strive to enhance global mobility and protect national interests. Acorn has a formidable reputation in the industry and is recognized for its deep understanding of the Aerospace & Defense markets, with proprietary access to the best companies within these sectors. With operational expertise and the 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. AcornGrowthCompanies.com