The Firm represented MB Aerospace in connection with its sale of its interests in MB Aerospace Sterling Heights, Inc. to an affiliate of American Industrial Acquisition Corporation. Going forward, Sterling Heights will trade as Vital Engineered Components Company (“VECCO”). The financial terms of the transaction were not disclosed.
MB Aerospace, majority owned by The Blackstone Group, is a leading supplier of precision aero-engine components directly serving major aero-engine OEMs and Tier 1 suppliers. MB Aerospace has developed a highly attractive global operating footprint, with more than 1,400 employees across nine locations (including three FAA approved Repair Stations) in the U.S., Europe and Asia, with proximity to all key OEMs, overhaul networks and Tier 1 customers.
Based in Michigan, VECCO focuses on the machining of high-value cast components for aerospace and industrial markets. It employs approximately 80 specialist and technical staff, with a number of industrial prime customers across North America and Europe.
The Simpson Thacher team included Michael T. Holick, Robert Harrison and David Goodman (M&A); Jonathan Goldstein (Tax); Brian Gluck, Leah Nudelman and Kaitlyn Posa (Credit); Larry Moss and Alisa Tschorke (Employee Benefits and Executive Compensation); Lori Lesser and Rachelle Broida (Intellectual Property); and Richard Jamgochian (Antitrust).