Author: Mary-Louise Hoffman|| Date Published: November 19, 2020
Belcan, a portfolio company of private equity firm AE Industrial Partners, has purchased aerospace and defense software engineering services provider Avista from Transdigm Group for an undisclosed sum.
Cincinnati-based Belcan said Wednesday the deal marks its 16th acquisition under AEI ownership.
Avista is headquartered in Platteville, Wisconsin, and helps commercial and government customers engineer and verify software platforms.
Steven Ungs, president of Avista, and the rest of the company's management team will join Belcan as a result of the acquisition.
Belcan CEO Lance Kwasniewski, said the transaction will add technical expertise to the firm's systems and software engineering business and help the company expand its footprint in the Midwest.
BakerHostetler and Seabury Security respectively acted as Transdigm's legal and financial advisers in the transaction.
PwC served as financial adviser to Belcan, while Kirkland & Ellis was the legal adviser.
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