Aircraft motor

JF Lehman Affiliate Buys Jet Engine Maintenance Firm CTS

An investment affiliate of J.F. Lehman & Co. has purchased CTS Engines for an undisclosed sum to help establish the latter's position in the global aircraft engine maintenance, repair and overhaul services market.

Fort Lauderdale, Florida-based CTS offers performs jet engine overhauls, return-to-service testing and component repairs for military aircraft and air freight operators, J.F. Lehman said Monday.

The MRO services provider works with vendors and customers in the process of repairing and replacing around 13K engine parts.

Jones Day acted as J.F. Lehman’s lead legal counsel on the transaction while Baker Hostetler served as the private equity firm’s adviser for government contracts, defense security and international trade.

William Blair served as CTS’ lead financial adviser and Lincoln International acted as its co-adviser. Bartlit Beck offered legal counsel to CTS and the selling equityholders during the sale process.

Siemens Financial Services and Barings Finance provided debt financing for the deal.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles

The Ultimate Guide to Winning Government Contracts Let us show you how top executives are winning so you can replicate it