Sidley advised TowerBrook Capital Partners L.P. on its investment in Aernnova Aerospace Corporation, S.A. The sellers have been assisted by Citi as a Financial Advisor to the transaction.
TowerBrook Capital Partners LP (TowerBrook), the London and New York based investment management firm, Torreal, one of the largest private investment firms in Spain, and Península S.a.r.l., an asset management firm focused on the south of Europe, will all become part of the Aernnova’s shareholder structure.
The transaction, signed on Friday 16th June, is expected to close within approximately six months, following the necessary regulatory approvals in Spain, the USA and the European Union.
The President of Aernnova, Mr Iñaki López Gandásegui, the Company’s Deputy CEO Mr Pedro Fuente Arce, other members of the Executive Committee of Aernnova and its management team will remain significant shareholders, assuring continuity of business management and strategy.
Under the leadership of Mr López Gandásegui, the Company has consolidated its market position and is recognized as one of the world’s leading Tier 1 aerostructures suppliers, having diversified both its client portfolio and its commercial relationships. In particular, the acquisition of Brek Manufacturing Company in February 2017 has strengthened the position of Aernnova in the large aerospace market of the USA.
The new investors, led by TowerBrook, provide Aernnova with financial resources, experience and extensive industry connections, making them excellent partners for the Company and its management team.
This is TowerBrook’s first investment in a Spanish-based company. TowerBrook opened a satellite office in Madrid in 2016.
TowerBrook brings meaningful financial resources, together with a transatlantic team of professionals with solid investing experience in the sector in which Aernnova operates.
Torreal is one of the largest private investment firms in Spain, with a recognized standing in strategic industrial sectors including aerospace, and will contribute to the further enhancement of Aernnova’s position both national and internationally.
TowerBrook Capital Partners L.P. is an investment firm specializing in direct and fund of funds investments. The company, led by Neal Moszkowski, Ramez F. Sousou and Filippo Cardini, is based in New York.
Sidley advised TowerBrook Capital Partners L.P. with a team including
Erik Dahl (Picture – Corporate/Private Equity), Christian Iwasko (Corporate/Private Equity), Oliver Currall (Tax), Patrick Harrison (Antitrust/Competition) and Washington, D.C.-based partners James Mendenhall (International Trade), Karen Kazmerzak (Antitrust/Competition) and Howard Stanislawski (International Trade). The team also included associates Michelle Tong (Corporate/Private Equity), Isabel Berger (Corporate/Private Equity), Ed Perry (Corporate/Private Equity), Maud Graves (Corporate/Private Equity), Zoe Woodhouse (Corporate/Private Equity), Jason Pegnall (Tax), Laurence Wilcock (Tax), Mark Wagh (Antitrust/Competition), Justin Becker (International Trade), Miriam Carroll (Antitrust/Competition) and Kristen Knapp (International Trade).
Involved fees earner: Erik Dahl – Sidley Austin LLP; Christian Iwasko – Sidley Austin LLP; Michelle Tong – Sidley Austin LLP; Isabel Berger – Sidley Austin LLP; Ed Perry – Sidley Austin LLP; Maud Graves – Sidley Austin LLP; Zoe Woodhouse – Sidley Austin LLP; Oliver Currall – Sidley Austin LLP; Jason Pegnall – Sidley Austin LLP; Laurence Wilcock – Sidley Austin LLP; Patrick Harrison – Sidley Austin LLP; James Mendenhall – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Howard Stanislawski – Sidley Austin LLP; Mark Wagh – Sidley Austin LLP; Justin Becker – Sidley Austin LLP; Miriam Carroll – Sidley Austin LLP; Kristen Knapp – Sidley Austin LLP;
Law Firms: Sidley Austin LLP;
Clients: TowerBrook Capital Partners L.P.;