Dealmaking continues for MAG Aerospace
By
Nick Wakeman
MAG Aerospace closes its third deal since being acquired by New Mountain Capital 10 months ago. This time MAG is expanding in the Asia-Pacific region.
Ten months ago, MAG Aerospace was acquired by private equity firm New Mountain Capital and since then has a platform for consolidation in the market.
In 2018, MAG closed two acquisitions after becoming part of New Mountain's portfolio and was named one of the top dealmakers for the year by Washington Technology.
On Tuesday, MAG announced its first deal of 2019 with the acquisition of the Australian company Encore Aviation and Encore Helicopter Maintenance. Financial terms were not disclosed.
The acquisition builds on MAG Aerospace’s strategy to grow in the Asia-Pacific region, CEO Joe Fluet said in a release.
Encore Aviation supports general aviation in Australia but also is a base for engineering and maintenance services to a range of aviation organizations. One of its customers is the National Aerial Firefighting Centre in Melbourne, Australia.
“Encore’s location and existing capabilities gives us the essential tools and positioning in a growing Australia market,” Fluet said.
MAG Aerospace’s acquisitions last year were of Ausley Associates, which brought more systems engineering, program management and logistics capabilities; and North American Surveillance Systems, a company that brought more integration and technical services capabilities.
When New Mountain acquired MAG, the idea was to provide more resources for bidding on new contracts as well as pursue acquisitions.
New Mountain is the same investment firm that formerly held Camber Corp. until its sale to Huntington Ingalls Industries in late 2016.