Impresa Aerospace acquired by Twin Haven Capital Partners

Gardena, California – Impresa Aerospace, a supplier to the commercial and military aerospace industries, has been acquired by a private equity fund managed by Twin Haven Capital Partners LLC. The acquisition comes at the end of a successful consolidation and restructuring effort which began nearly three years ago. As a result of this acquisition, and an accompanying capital infusion, Impresa’s liquidity position has been significantly enhanced and its net debt has been reduced to zero. 

 

Impresa Aerospace was formed in April 2012, when then Venture Aircraft acquired certain assets of Swift-Cor Aerospace. The new company immediately embarked on its restructuring plan, including the consolidation of multiple facilities in both California and Kansas. In addition, the new aerospace concern implemented Lean Cellular Manufacturing processes and added advanced capabilities. The result was a competitive, vertically-integrated aerospace company capable of delivering quality parts, on time, to customers all over the world.

 

“The future looks extremely bright for Impresa,” stated Scott Smith, Impresa’s chief executive officer. “We spent the last three years restructuring the operational side of the business. Now, with a strengthened capital structure, we are able to meet the future needs of our valued customers and to support the growth potential of our business.”

 

Robert Webster, senior managing director of Twin Haven, said, “With the acquisition of Impresa completed, we look forward to working closely with the company’s management team as they capitalize on attractive growth opportunities. Impresa is uniquely positioned as a leader in its industry, and we believe the company will continue to build on its reputation as a quality manufacturer of parts for the aerospace industry.”

 

Impresa has major contracts with Boeing Commercial & Defense, Spirit Aerosystems, Northrop Grumman, Sikorsky, Lockheed Martin, Goodrich, and Gulfstream. Notable commercial programs include the Boeing 787, 777, 747 and 737; Airbus A380; and Gulfstream G550 and G650. Regarding defense-related programs, Boeing’s Apache Helicopter, C-17, F-18, F-35 (JSF), and Sikorsky’s Black Hawk helicopter are among the company’s most significant defense contracts.

 

The company operates two facilities — a 100,000ft² Gardena, California plant, along with the 40,000ft² Wichita, Kansas plant — where it provides a comprehensive array of engineering, manufacturing and assembly services. The company is noted for supplying OEMs, Tier 1 and Tier 2 customers with precision sheet metal parts, CNC-machined components, and assemblies. Impresa employs a staff of over 300 employees. 

 

Twin Haven Capital Partners LLC is a private investment firm focused on making special situation investments in small and middle market companies. Twin Haven maintains offices in Los Angeles, California (headquarters), and Westport, Connecticut. Twin Haven's investment funds' limited partners include public and private pension funds, endowments, foundations, and other institutional and high-net-worth investors. 

 

Impresa has been advised by Salem Partners and Twin Haven was advised by Willkie Farr & Gallagher.