Seattle, Wash. – Raisbeck Engineering Inc. (“REI”), a leading provider of performance enhancement systems for business and commercial aircraft, announced its decision to sign a definitive acquisition agreement with Butterfield Industries (“BI”) for all of its products and STCs. The deal is anticipated to close on or before October 31, 2017.
Butterfield Industries produces FAA approved replacement parts for numerous King Air models. Key products include: PMA Direct Replacement Floorboards, Fuel Point Pans, Oil Residue Collection Systems, Air/Oil Separator Systems and Flow-Through Anti-Ice Kits.
“BI’s products are a natural fit with Raisbeck’s King Air offerings,” stated James Raisbeck, Founder and Chairman of Raisbeck Engineering. “Wayne Butterfield, the founder of Butterfield Industries and principal inventor of its systems, has been a corporate partner and friend dating back to 1982. Many of the aircraft that carry Raisbeck modifications also carry Butterfield systems.”
“We have found the right partner in REI,” commented Wayne Butterfield, Founder and CEO of Butterfield Industries. “REI’s established dealer distribution network will enable our products to reach a larger customer base.”
“We are pleased at the synergies between the businesses, creating an environment for strategic growth as BI products are integrated into REI product and system offerings,” remarked Rick Nagel, Managing Partner of Acorn Growth Companies, the owner and managing partner of Raisbeck.
Terms of the transaction are not announced.
Butterfield Industries, headquartered in Meridian, ID, has proudly produced quality airplane parts for installation on King Air Models for over 30 years. Butterfieldindustries.com
Raisbeck Engineering, Inc., an AGC Aerospace and Defense company, is a leading provider of aircraft modifications for business and commercial aircraft. Dedicated to improving performance and efficiency for aircraft owners, REI’s aerodynamically designed enhancements deliver better performance results and improve passenger comfort. Raisbeck.com
Acorn Growth Companies is a middle market private equity firm focused exclusively on A&D. Acorn invests solely in operating companies that strive to enhance global mobility and national security. Acorn has a strong reputation in the industry and is recognized for its deep understanding of the A&D markets, with proprietary access to the best companies within these sectors. With operational expertise and its ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders. AcornGrowthCompanies.com
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