GenNx360 Capital Partners Announces Investment in DRT Aerospace

NEW YORK--(BUSINESS WIRE)--GenNx360 Capital Partners (“GenNx360”), a New York City-based private equity firm investing in U.S. lower middle market industrial services and business services companies, today announced its investment in DRT Aerospace (“DRT Aero” or the “Company”), a carve-out from DRT Holdings LLC.

DRT Aero is a manufacturer of precision machined components for the aerospace, defense, space, and industrial gas turbine (“IGT”) end markets. The Company’s primary focus is aerospace engine components, where it holds embedded positions on leading aerospace and defense platforms. DRT Aero is headquartered in Cincinnati, Ohio, and operates production facilities in Connecticut, Ohio, and South Carolina. Across its facilities, the Company is supported by a workforce of approximately 250 full-time employees.

Rob Cohen, CEO of DRT Aero, stated, “We are excited to partner with GenNx360, whose deep operational expertise and track record of building platforms in the Aerospace & Defense (“A&D”) sector will be a tremendous asset to us as we enter our next phase of growth as a standalone company. GenNx360’s investment in DRT Aero will enable us to continue to build our team and manufacturing capabilities, deepen our positions on key aerospace and defense programs, and deliver best-in-class quality and on-time performance to our customers.”

Pratik Rajeevan, the GenNx360 Partner who led the transaction, stated, “We have been impressed with Rob and the DRT Aero team’s customer-centric approach, rigorous quality standards, and well-invested facilities. Our investment in DRT Aero aligns with our proactively targeted thesis in the A&D supply chain. This is a sector that we understand well and believe will benefit from significant tailwinds in the coming years, particularly given the record backlogs from OEMs across all end markets of the business, including commercial aerospace, defense, space, and IGT. DRT Aero’s longstanding positions on leading platforms in these markets position the Company well to benefit from these tailwinds and continue its impressive growth trajectory.”

“DRT Aero’s management team brings deep technical expertise and a proven ability to execute on complex, mission-critical programs. We look forward to supporting the team as it invests in expanding its capacity and capabilities to meet increasing customer demand. Together, we will pursue both organic growth and strategic acquisitions to build an industry-leading platform,” said Reece Zakarin, Vice President at GenNx360.

GenNx360’s DRT Aero team includes Pratik Rajeevan, Partner; Mike Bernacchi, Operating Partner; Reece Zakarin, Vice President; and Miles Oliver, Associate.

Lincoln International and Deloitte Corporate Finance served as financial advisors and Akin Gump served as legal counsel to DRT Holdings LLC. Perella Weinberg Partners served as financial advisor and Winston Taylor served as legal counsel to GenNx360.

About GenNx360 Capital Partners

GenNx360 Capital Partners is a private equity firm with ~$3 billion in capital under management that partners with lower middle market industrial services and business services companies. GenNx360 invests in companies with proven and sustainable business models in expanding industries operating in large markets. The firm implements value-enhancing growth plans and operational improvements alongside rapid buy-and-build strategies to accelerate growth, deliver efficiencies, and generate strong financial returns. Target industries include aerospace and defense, infrastructure services, testing and inspection, automation & industrial technology, commercial services, and food services. GenNx360 was founded in 2006 and is headquartered in New York City. www.gennx360.com

About DRT Aerospace

DRT Aerospace is a manufacturer of precision machined components for the aerospace, defense, space, and IGT end markets. The Company’s primary focus is aerospace engine components, where it holds embedded positions on leading aerospace and defense platforms. DRT Aero is headquartered in Cincinnati, Ohio, operates production facilities in Connecticut, Ohio, and South Carolina, and is supported by a workforce of approximately 250 full-time employees.