Irwin Mitchell Corporate And Banking Teams Advise On The Deal

Acorn Growth Companies (AGC), a private equity firm investing exclusively in aerospace, defence and intelligence, has acquired a majority interest in Aerospares 2000 Ltd, a full-service aftermarket supplier and distributor of rotable parts for commercial aircraft.

Based in Watford, Aerospares specialises in identifying, procuring, and stocking the most demanded and hard-to-find rotables, with a focus on minimum equipment list parts that are ready to ship 24/7 from its facility in greater London. 

The company supports more than 350 customers world-wide, including many of the world’s leading airlines, cargo operators and leasing companies.

Acorn was advised by Irwin Mitchell with Corporate partners Nick Dawson and Dan Bastide, leading on the corporate aspects of the deal together with Matt Smith, Emma Callow, Stephen Hutton and Tom Wisniewski. 

Debt financing for the acquisition was provided by senior term and asset based loan facilities and Irwin Mitchell partner Akhil Sharma acted on the banking and financing aspects of the transaction. 

Expert Opinion

“Acorn has a formidable reputation in the industry and Aerospares 2000 is a fast-growth business with a superb reputation as a supplier of aircraft spare parts. This new partnership offers tremendous growth opportunities in Europe and in the US and I’m confident that this investment will provide the perfect platform for future expansion.” Nick Dawson - Partner

Rick Nagel, managing partner of Acorn Growth Companies, said:  “Aerospares is a leader in the aerospace aftermarket with a highly differentiated focus on supporting its customers’ AOG needs with highly-demanded, yet hard-to-find material. This is demonstrated by its blue chip customer base and unparalleled reputation for superior customer service, quality, and on-time delivery.

“Aerospares is a strategic investment and a tremendous platform for growth in the aerospace aftermarket. We believe that Aerospares’ growth will be further enhanced by the partnership with AGC and the resources that we can add to this remarkable company and management team.” 

Adam Nemenyi, Aerospares’ founder, will remain chief executive officer and retain a significant ownership position in the Aerospares. 

Adam Nemenyi said: “Founded at the turn of the millennium, Aerospares has established itself as a market leader in supporting its broad customer base of some of the world’s largest airlines, MROs, OEMs and aftermarket suppliers. 

“Having recently moved into a spacious, state-of-the-art facility, we are excited to team-up with an exceptional partner such as AGC, which brings an unmatched network and reputation. Together, we believe we can expand our business and offer enhanced support to our global customer base in our current locations, as well as through geographic expansion.”