DR Technologies, a manufacturer and developer of advanced composite structural products for the aerospace and defense markets, has been acquired by Nogales Investors through a recapitalization. Los Angeles-based Nogales Investors acquired a 70% stake in the company for approximately $20 million, with the company's management retaining a significant position in the company.
According to data provided by the PitchBook Platform, there have been seven other aerospace and defense structural products manufacturer acquisitions since 2004. This particular group of companies is just a small percentage of the 93 total aerospace and defense manufacturer investments by private equity within the same time frame. Both groups have seen a fairly constant number of investments showing all segments of this mature industry has remained an old favorite of private equity over the past five years. The Carlyle Group has been the most active investor, closely followed by Behrman Capital and Platte River Ventures.