Target Identification and Transaction Support for Aftermarket Services Provider Acquisition
Alton was engaged to serve as a strategic advisor by a Special Purpose Acquisition Company (SPAC) in search of a business combination in the aerospace and defense industry.
Alton first met with its client to develop an understanding of its investment criteria and objectives for a business combination. Following our retention, Alton’s senior leadership team leveraged its extensive market knowledge and relationships, together with data and research tools, to develop a list of potential business opportunities.
At the request of our client, Alton contacted the investment bank that had been retained to sell the target, a leading private-equity owned commercial aviation aftermarket provider.
Alton supported our client through its discussions and negotiations regarding the market, target, and transaction structure until execution of a merger agreement.
Subsequently, Alton’s engagement was expanded to include selected due diligence support, including an analysis of market opportunities and risks in the aviation aftermarket, and a thorough review and analysis of the AerSale business plan and forecasts.
Alton’s client in the transaction, Monocle Acquisition Corporation, was a public investment vehicle formed to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with a focus on the aerospace and defence sectors.
Monocle successfully combined with AerSale, a leading, integrated global supplier of aftermarket aircraft, engineered solutions, spare engines, flight equipment, maintenance, repair and overhaul (MRO) services, and used serviceable material (USM) support.
The transaction valued the combined company at approximately $430 million, and the firm is publicly traded on the Nasdaq Stock Market.