PRV takes over Astro Spar

Jan. 4, 2013 at 12:44 PM

EVERETT, Wash., Jan. 4 (UPI) -- Astro Spar Inc., a California manufacturer of machined components and assemblies for the aerospace industry, has been taken over by PRV Aerospace LLC.

PRV Aerospace, a portfolio company of Court Square Capital Partners, said Friday its acquisition of all outstanding stock of Astro Spar will bolster and expand its capabilities to supply of flight critical components to military and civilian clients.

"The capabilities of Astro Spar, its aircraft platform positions, the strength of the management team and a strong presence in the commercial aerospace market fit well with our existing businesses and overall strategic direction," said Richard Wood, chief executive officer of PRV Aerospace.

"We look forward to partnering with the Astro Spar management team, which will continue to be led by Omar Khan, and the employees, to build on the company's excellent reputation and further expand the range of products and services we offer to our customers."

Neither PRV nor Astro Spar disclosed the terms of the transaction, which was financed by GE Antares Capital and Ares Capital Corp.

Related UPI Stories
Latest Headlines
Trending News
Harris delivering tactical radios to multiple customers
Orbital ATK receives orders for military ammunition
Northrop Grumman upgrading G/ATOR radar system
USS Porter arrives in Ukraine for NATO peace mission
U.K. to boost equipment supply for Jordan