Experience
Successful financial exit for retiring founder of a leading cable &
wire harness manufacturer serving defense customers
Southern California Braiding Co., Inc. is a highly specialized manufacturer and integrator for
the Aerospace & Defense Industry. The Company manufactures high reliability products
including cable assemblies, molded cables, wiring harnesses, multi-conductor cable,
specialty cables, “Black Box” inter-connecting devices, fiber optics, test panels and cabinets,
and specialty electro - mechanical assemblies, which are vital for signal and data transferring.
(more information)
Case Studies
Includes career mandates by Glidepath Capital Partners professionals.
Successful liquidity event for multi family, multi generational
ownership group
Company
Palmer Manufacturing Co. is a leading provider of machining and assembly services for
aerospace engine OEMs. The company specializes in complex aircraft engine components with
a focus on combustion (liners and nozzles), rotating hardware (disks, seals, shafts and spools),
and structural (casings, frames and housings) components. Palmer’s products serve all
segments of the aerospace industry, including commercial, regional and business jets as well
as military and marine procurements.
Situation
Palmer was jointly owned by three families spanning multiple generations
The owners did not share a common vision for the future of the company or for the
considerable capital equipment investments that were soon to be required
Palmer had a strong, non-ownership management team that wanted to continue
executing on its successful growth plan
Solution
Run a full sell-side auction process to find a buyer willing to appropriately value the
backlog of future work the company was awarded
Find a buyer that recognized the future value that would be created by making capital
equipment investments now - and was willing to finance the investments
Result
Successful sale to a private equity fund building an Aerospace manufacturing platform
The owning families received full value for their equity and were able to move on and
pursue their individual interests
Management was able to stay on and execute their plan with appropriate funding
Location:
Medford, MA
Sub-sector:
Engine Components
Successful financial exit for retiring founder of a leading cable &
wire harness manufacturer serving defense customers
Company
Southern California Braiding Co., Inc. is a a highly specialized manufacturer and
integrator for the Aerospace & Defense Industry. The Company manufactures high reliability
products including cable assemblies, molded cables, wiring harnesses, multi-conductor cable,
specialty cables, “Black Box” inter-connecting devices, fiber optics, test panels and cabinets,
and specialty electro - mechanical assemblies, which are vital for signal and data transferring.
Situation
Aging company founder looking forward to retirement
No family successor in queue to take over for retiring father
Company had a large volume of classified contracts creating a challenge in discussing
company performance with potential suitors
Solution
Run a full sell-side auction process to find the most suitable buyer at an attractive price
Market the company to “educated” parties familiar with defense contracting and classified
work to smooth the due diligence process
Result
Successful all-cash sale to a public company at expected full value
Company COO made CEO by buyer, allowing him to continue his career
Buyer able to launch into new market segment with substantial contracts and backlog
Location:
Bell Gardens, CA
Sub-Sector:
Defense Electronics