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24 Aug 17. Arlington Capital Partners Announces the Acquisition of Tex Tech Industries. Arlington Capital Partners (“Arlington Capital”), a Washington, DC-based private equity firm, today announced the acquisition of Tex Tech Industries, Inc. (“Tex Tech” or the “Company”). Headquartered in Portland, ME, Tex Tech is a leading manufacturer of specialty high performance materials serving the aerospace, defense, industrial industries and select sporting applications. The Company’s global manufacturing footprint and extensive R&D team serve the complex needs of its growing customer base.
“Tex Tech’s unique capabilities and approach to the design and manufacture of specialty materials made this an attractive investment for us,” said Peter Manos, a Managing Partner at Arlington Capital. “CEO Ciaran Lynch and his management team have built an R&D-focused specialty materials company with growth opportunities across many end markets and we are excited to partner with them in the company’s next phase of ownership. Tex Tech represents another investment for Arlington in aerospace and defense specialty manufacturing which aligns with our focused investment approach.”
Ciaran Lynch, CEO of Tex Tech, said “We are excited to partner with Arlington Capital as we start our next chapter. The firm’s buy and build strategy, significant base of capital, as well as network of aerospace and defense relationships will allow us to rapidly increase the company’s scale. We look forward to continuing the strong partnership we have with our customers and serve their complex requirements for high performance textiles by continuing to expand our product offerings.”
Chris Stallmann, a Vice President at Arlington Capital, said, “Ciaran and his team have a great reputation in the high performance textiles market and Arlington looks forward to expanding the company through acquisition and continuing to invest in the company’s facilities. Manufacturing over 7,000 products, the company’s strong R&D capabilities as well as global manufacturing footprint allows it to be an end-to-end manufacturing partner for its customers’ most demanding specialty material requirements. (Source: BUSINESS WIRE)
24 Aug 17. Patria Group Interim Report for 1 January–30 June 2017. Patria Group’s result for the first half of the financial period was at the estimated level. Net sales totalled EUR 221.8m, compared to EUR 253.6m in the previous year (-12.5%). Operating profit decreased to EUR 15.4m from EUR 40.8m in 2016. Equity ratio was 52.0% (50.3%) and net gearing 29.6% (23.9%). The value of the order book fell to EUR 803.8m from EUR 974.4m a year earlier. A large part of the new orders received during the period is linked to the Aviation business and its maintenance and life-cycle support services for the military aviation sector. The decrease in operating profit is mainly due to fluctuations and delayed decision making process in international projects.
First half of 2017
In February, it was announced that Patria Pilot Training will continue as a training partner of the Finnish Aviation Academy at its new training base at Tampere-Pirkkala Airport. Patria will be responsible for flight and theoretical training of 20 cadets to obtain a commercial pilot license.
Patria attended IDEX 2017 event in February in Abu Dhabi, UAE and featured its latest technology such as Patria Nemo Container – the world’s first 120 mm mortar system integrated with a container. Patria showcased also the new Patria AMV28A and Patria AMV Part Task Trainer training system.
In March Patria Pilot Training and Nordic Regional Airlines, Norra, signed an agreement on ab-initio pilot training.
In April, Norwegian Defence Logistics Organisation (NDLO) s