NEW YORK and BOCA RATON, Fla., Nov. 12, 2024 /PRNewswire/ -- Branford Castle Partners, a North American-focused private equity firm, today announced that it has acquired Testek Solutions, a leading manufacturer of proprietary aviation component testing equipment, from a fund managed by Odyssey Investment Partners. Terms of the transaction were not disclosed.

Testek marks the seventh platform investment and twelfth acquisition overall for Branford Castle's Fund II, which closed in 2021. Over the last few months, Branford Castle also acquired Hoffman Engineering and announced the successful exits of its investments in Clean Solutions Group and Earthlite Massage Tables.

Based in Wixom, MI, Testek is a leading designer and manufacturer of advanced testing solutions for military and commercial aircraft components. Since its inception in 1969, the Company has developed a strong brand reputation within the aerospace sector. Its products are utilized by many major commercial airlines, the U.S. military, MROs, and aerospace and defense OEMs. Testek CEO Bruce DeWitt and the rest of the existing management team will remain with the Company going forward.

Eric Korsten, Senior Managing Director at Branford Castle, said, "We are excited to partner with Bruce and the entire Testek team. We see attractive opportunities in this market as the aerospace industry continues to expand, creating increased demand for Testek's specialized aviation testing equipment. The Company's leading position in the market, along with its proprietary capabilities, make it a terrific platform for growth."

Mr. DeWitt added, "Today's milestone is a validation of the trusted solutions and customer-focused culture that we have achieved. We are extremely grateful for the support of our previous sponsor, Odyssey Investment Partners, and look forward to continuing to deliver on future growth opportunities with our new partners at Branford Castle."

David Castle, Managing Partner at Branford Castle, said, "This important transaction would not have been possible without our long-time financing partner, Siguler Guff & Company, whose continued support of our growing portfolio is greatly valued."

Branford Castle was advised by its legal counsel, Akerman LLP, and RSM served as its accounting/tax advisor. Testek was advised on the sell-side by Kroll investment banking. Siguler Guff & Company is providing unitranche debt capital and equity for the transaction.

ABOUT BRANFORD CASTLE PARTNERS

Branford Castle is a private market investor focused on lower middle-market investments, with more than 35 years of helping to grow businesses. The Firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford Castle prides itself on the strong relationships it develops with its portfolio company managers. Branford Castle has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics. For more information, please visit branfordcastle.com.

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SOURCE Branford Castle Partners