The Resolute Fund, an affiliate of The Jordan Company, has entered into a definitive agreement to sell Reinhold Holdings to HEICO Corporation.
Reinhold is a manufacturer of advanced custom composite components and complex composite assemblies for commercial aviation, defence and space applications. Financial details of the transaction, which is subject to customary closing conditions, have not been disclosed.
Acquired by The Jordan Company in 2006 and headquartered in Santa Fe Springs, California, Reinhold produces high-quality, heat resistant, advanced custom composite components and assemblies. Its commercial aviation products are primarily composite passenger seating solutions for existing and next-generation large and regional jet aircraft. Its defence and space products serve mission-critical roles for the rocket-propulsion industry.
“It has been a privilege to partner with the Reinhold management team in building a premier manufacturer of complex composite components and assemblies for safety-critical commercial aviation, defence and space applications,” says Jonathan F Boucher, managing partner at The Jordan Company. “Reinhold provides exceptional service to its expanding list of customers. As part of HEICO, Reinhold is well positioned to further penetrate its growing markets.”
The Jordan Company worked in partnership with the management team to grow its competitive position through investments in operations and customer relationships. These organic activities have been supplemented by the strategic acquisition of Enpro Engineered Products, which further expanded the company’s product portfolio and capabilities.
“The Jordan Company has been a great partner in supporting the growth and expansion of Reinhold,” says Clarence Hightower, chief executive of Reinhold. “Jordan has confidently supported Management by providing the necessary resources and operational guidance, M&A expertise and strategic planning support. With the full support of The Jordan Company, Reinhold has demonstrated significant growth, market share gains and customer satisfaction in its growing commercial aircraft and defence (domestic and foreign military sales) markets.”
Lazard acted as exclusive financial advisor to Reinhold. Mayer Brown acted as legal adviser to The Jordan Company.
