Generational Capital Markets Advises B & B Airparts in Its Sale to Spartan Aerospace Group, a Portfolio Company of The Edgewater Funds

DALLAS--(BUSINESS WIRE)--Generational Capital Markets (GCM), a member of FINRA/SIPC and a leading mergers and acquisitions consultant for privately held businesses, is pleased to announce the sale of B & B Airparts to Spartan Aerospace Group, a portfolio company of The Edgewater Funds. The acquisition closed January 5, 2026.

Based in Wichita, Kansas, B & B Airparts is an aviation manufacturing firm that specializes in CNC machining, sheet metal fabrication, and complex assembly of components for the aerospace industry. Founded in 1998, the company operates an extensive manufacturing facility and is known for delivering high-quality parts with competitive pricing. Its capabilities include milling, detailed assemblies ready for aircraft installation, and a range of sheet metal and machining services designed to support diverse production requirements. B & B Airparts emphasizes responsive quoting and production performance to meet customer needs.

Headquartered in New Britain, Connecticut, Spartan Aerospace Group is a vertically integrated aerospace manufacturing holding company that brings together specialized small and mid-sized manufacturers to deliver precision-engineered components, assemblies, and solutions for the aviation and aerospace industries. Founded and led by industry veterans with a focus on discipline, quality, trust, and collaboration, the group supports mission-critical applications through capabilities such as precision machining, investment casting, and advanced assembly, and strives to exceed customer expectations across commercial and defense markets.

Located in Chicago, Illinois, The Edgewater Funds is a private equity firm that partners with growth-oriented middle market companies to help accelerate their development and market leadership. The firm provides both growth equity and buyout investments, leveraging capital, operational experience, and an extensive business network to create long-term value for its portfolio companies. Since 2001, Edgewater has focused on working closely with management teams to drive profitable expansion. Its investment approach is supported by partners and advisors with significant executive leadership experience, including former CEOs and prominent business leaders.

Generational Capital Markets' President and Supervising Principal, Brenen Hofstadter and his team, led by Senior Managing Director, M&A, Phil Pizzurro with the support of Vice President, M&A, Aaron Presley, successfully closed the deal. Senior M&A Advisor, Michael Lorence established the initial relationship with B & B Airparts.

“It was a privilege to work alongside Dan Barnard, and the B & B Airparts team. Spartan and Edgewater provide the strategic and financial resources to accelerate the Company’s momentum while preserving the culture and operational strength that made it successful,” said Phil Pizzuro.

Ryan Binkley, CEO of Generational Group, stated, “This transaction reinforces our commitment to meaningful partnerships that create lasting results. It brings together partners who share a common vision and are well positioned to achieve continued growth together.”

About Generational Group Capital Markets, Inc.

Generational Capital Markets, Inc. is a member of FINRA/SIPC. Generational Capital Markets is part of Generational Group, which is headquartered in Dallas, TX, and is a leading, award winning full-service M&A consulting firm. Generational Group has over 300 professionals across 16 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including strategic growth consulting, exit planning education, business valuation, value enhancement strategies, M&A consulting, digital solutions, and wealth management.

Celebrating its 20^th year, Generational has successfully closed over 1,800 transactions and has ranked #1 or #2 in all LSEG league tables for deals valued between $25 million and $1 billion in 2024 and 2025.

The firm was named 2025 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in 2022, 2024, and 2025.