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Tuesday, August 4, 2020

KKR completes acquisition of Fort Worth-base aerospace, defense company

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The sale of Fort Worth-based Novaria Group to global investment firm KKR, has closed, according to Rosewood Private Investments.

Headquartered in Fort Worth, Novaria Group serves over 500 customers as an independent supplier of complex, highly engineered components and specialty processes for the aerospace and defense industry. Since RPI’s initial investment in Novaria in 2014, the company has completed numerous additional acquisitions that have substantially expanded its capabilities and product offerings.

G.T. Barden, Managing Director of RPI, stated, “We have enjoyed our time with Novaria and are excited for the team and their new financial partner. This transaction continues to validate RPI’s strategy of partnering with operators who possess deep industry knowledge and providing them the strategic resources to accomplish our collective goals.”

In late November, KKR, a leading global investment firm, announced it has entered into an agreement to acquire Novaria Group from Rosewood and Tailwind Advisors. The transaction, the financial details of which were not disclosed, was funded through KKR’s Americas XII Fund. Financing was led by lead arrangers KKR Capital Markets and RBC Capital Markets LLC. KKR was advised in the transaction by Kirkland & Ellis LLP, Deloitte and AeroDynamic Advisory. Novaria Group was advised in the transaction by Lazard, Riveron, and Foley & Lardner LLP.

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