Platte River Equity acquired CTS Engines in partnership with the CTS senior management team.

Platte River invested out of its third fund, Platte River Equity III. Annaly Middle Market Lending provided financing for the transaction. Bartlit Beck Herman Palenchar & Scott served as legal counsel to Platte River, and Houlihan Lokey served as debt placement agent. BlackArch Partners served as sell-side advisor to CTS.

Fort Lauderdale, FL-based CTS provides a full spectrum of maintenance, repair and overhaul services for established engine platforms, specializing in the overhaul of the General Electric CF6-80C2, CF6-80A and CF6-50 engines, as well as the Pratt & Whitney PW2000.

Denver-based Platte River Equity is a private equity firm focused on equity investments from $20 million to $80 million in lower middle market operating companies with enterprise values generally between $40 million and $250 million.