MAG Aerospace gets backing from PE firm New Mountain

Government services contractor MAG Aerospace has received an investment from private equity firm New Mountain Capital to assist in growth objectives such as new contracts and acquisitions.

Terms of the investment are undisclosed but New Mountain Capital will provide “significant financial and strategic resources” to MAG for the latter’s growth objectives, according to a June 7 release.

Fairfax, Virginia-based MAG focuses on intelligence, surveillance and reconnaissance technologies and provides what it calls “turnkey ISR solutions” to customers for real-time situational awareness. The company carries out operations, training, technical and specialty operational services.

Founded in 2009, MAG says it helps operate over 200 aerial platforms across 6 continents for U.S. defense and civilian agencies, allied partners and intergovernmental organizations such as NATO and the United Nations.

New York City-headquartered New Mountain has experience in the federal market through its prior ownership of Apptis and Camber Corp. New Mountain exited its Apptis investment in 2011 through a $260 million sale to URS Corp. and five years later sold Camber Corp. to Huntington Ingalls for $380 million.

William Blair served as financial advisor and Cooley LLP served as legal counsel to MAG Aerospace. Wells Fargo and Jefferies served as financial advisors and Ropes & Gray LLP provided legal counsel to New Mountain Capital.