An investment affiliate of J.F. Lehman & Co. has purchased CTS Engines for an undisclosed sum to help establish the latter's position in the global aircraft engine maintenance, repair and overhaul services market.
Fort Lauderdale, Florida-based CTS offers performs jet engine overhauls, return-to-service testing and component repairs for military aircraft and air freight operators, J.F. Lehman said Monday.
The MRO services provider works with vendors and customers in the process of repairing and replacing around 13K engine parts.
Jones Day acted as J.F. Lehmanâs lead legal counsel on the transaction while Baker Hostetler served as the private equity firmâs adviser for government contracts, defense security and international trade.
William Blair served as CTSâ lead financial adviser and Lincoln International acted as its co-adviser. Bartlit Beck offered legal counsel to CTS and the selling equityholders during the sale process.
Siemens Financial Services and Barings Finance provided debt financing for the deal.
