Impresa Aerospace, LLC
310-354-1200 ex. 1204
FOR IMMEDIATE RELEASE
Impresa Aerospace Announces its Acquisition by Twin Haven Capital Partners
Gardena, CA (October 15, 2014) Impresa Aerospace, a leading supplier to the commercial and military aerospace industries, announced today that it has been acquired by a private equity fund managed by Twin Haven Capital Partners, LLC.
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. The Company’s improved financial flexibility is expected to allow its management to make long-term investments in Impresa’s business in order to support its customer base, vendors and employees.
“The future looks extremely bright for Impresa,” stated Scott Smith, Impresa’s Chief Executive Officer. “With this transaction completed, the Company has a strengthened capital structure which provides the financial liquidity to continue to meet the expectations of its valued customers and to support the growth potential of our business. We are excited to have a committed sponsor partner in Twin Haven supporting us as we execute our strategic vision for the 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 been advised by Salem Partners and Twin Haven was advised by Willkie Farr & Gallagher.
About Impresa Aerospace
Impresa is a leading supplier to the aerospace industry, with 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 100,000 square foot Gardena, CA plant, along with the 40,000 square foot Wichita, KS 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 high-quality, competitively priced precision sheet metal parts, CNC-machined components and assemblies. Impresa employs a staff of over 300 employees. For more information about Impresa, please visit www.impresaaerospace.com.
About Twin Haven
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, CA (headquarters) and Westport, CT. Twin Haven’s investment funds’ limited partners include public and private pension funds, endowments, foundations and other institutional and high-net-worth investors. For more information about Twin Haven, please visit www.twinhavencap.com
For more information about Impresa Aerospace contact Sheila Hsu.