Barings Finance and Siemens Financial Services provided debt financing for aerospace-focused private equity firm J.F. Lehman’s acquisition of CTS Engines, a provider of maintenance, repair and overhaul services for aircraft engines.
“CTS has built an excellent reputation as a leading independent aircraft engine MRO service provider and is a strong addition to JFLCO’s portfolio of companies,” Steve Brooks, partner with J.F. Lehman, said. “CTS’ high quality customer service, well-differentiated value proposition and talented workforce reflect core characteristics we seek in our investments. We look forward to partnering with Vesa Paukkeri and his team to continue to build CTS’ strong position as a leading provider in its mature engine MRO market.”
“J.F. Lehman & Company is an ideal partner for CTS. They bring a unique combination of sector and operational expertise, deep relationships in our target industries, and capital to accelerate our growth. We look forward to expanding CTS’ position as a global leader in high quality jet engine maintenance with the support of JFL,” Paukkeri, who is the CEO of CTS, said.
Jones Day served as lead legal counsel for J.F. Lehman. Baker Hostetler provided government contracts, defense security and international trade advice to J.F. Lehman. William Blair served as lead financial advisor to CTS and Lincoln International served as co-advisor. Bartlit Beck provided legal counsel to CTS and the selling equity holders.