Acorn Growth Companies’ Portfolio Company Aerospares 2000 Announces Merger With Sentry Aerospace

Irwin Mitchell’s Corporate and Banking teams have advised on Aerospares 2000’s (Aerospares) merger with Sentry Aerospace Corporation (Sentry). The transaction creates one of the largest global independent stocking distributors of commercial aircraft components and marks a significant deal for Aerospare’s private equity owner, Acorn Growth Companies.

Based in Watford, Aerospares 2000 is one of the foremost aftermarket suppliers of aircraft spare-parts in the world. It has 350 customers globally including many of the leading airlines, cargo operators and leasing companies.

Sentry is headquartered in Morganville, New Jersey, and was founded in 1975. It is a leading global stockist of commercial aircraft spare parts covering the full range of aircraft on ground (AOG) components, including avionics, escape slides, life rafts and ram air turbines for all major commercial aviation platforms. 

Acorn Growth Companies is a middle market private equity firm investing exclusively in aerospace, defence, intelligence, and space opportunities. This latest transaction represents Acorn’s first investment in its recently raised fifth investment fund.

Corporate Partners Nick Dawson and Dan Bastide plus Senior Associate Matt Smith from Irwin Mitchell’s Corporate team and Finance Partner Akhil Sharma with Nick Jennings and Shanice Begum from Irwin Mitchell’s Banking team provided legal support to Acorn and Aerospares.

Irwin Mitchell has advised Acorn on a number of deals including its purchase of a majority stake in Aerospace 2000 in 2019.

Expert Opinion

“We’re delighted to work with Acorn again and advise on this strategically important deal. The merger between the two businesses builds the leading independent stocking distributor of high value aircraft components whilst creating a company with tremendous financial flexibility. This is vital for the global aviation market as it continues its strong recovery.” Matt Smith - Senior Associate Solicitor

Rick Nagel, managing partner at Acorn Growth Companies’ said: “Sentry is a leader in the aerospace aftermarket space with a highly focused stocking strategy, deep vendor and sourcing relationships, and a sterling reputation. Given the similarities in the business strategies and corporate cultures, limited inventory overlap, and the longstanding deep personal relationships between Aerospares’ and Sentry’s principals, the merger was a natural combination and one that will benefit all constituencies, particularly our customers.  The merger of these two outstanding companies creates a tremendous platform for growth in the aerospace aftermarket, which we believe can be further augmented by the resources that Acorn will contribute.”

Adam Nemenyi, CEO at Aerospares 2000 Ltd, said: “We look forward to teaming up with an exceptional partner such as Sentry, which brings an unmatched network and reputation. The growth and commercial synergies of this combination are innumerable. Together, we believe we can exponentially expand our business and offer enhanced support to our global customer base in our current locations, as well as through geographic expansion.”

Bridgepoint Credit and Wells Fargo Capital Finance (UK) provided credit financing in connection with the transaction.