Capitol Meridian RH Aero investment to back aviation services firm

Capitol Meridian Partners has agreed to make a Capitol Meridian RH Aero investment, backing RH Aero Systems, a Mason, Ohio-based provider of aviation support equipment and services. The companies did not disclose financial terms, leaving the transaction’s valuation and ownership split unspecified.

PE Hub reported that RH Aero’s existing shareholders, including the Moeller family, will remain significant investors after the deal. The Moeller family has led the business since its founding in 1967, according to the report.

The investment is being paired with a leadership change. Anthony Turner, currently president of RH Aero, will become chief executive officer, while Dieter Moeller will continue as chairman.

What is RH Aero Systems?

RH Aero Systems supplies aviation support equipment and related services to customers including original equipment manufacturers, airlines, MROs, military operators and power-generation customers, according to PE Hub. MRO refers to maintenance, repair and overhaul, a segment that supports aircraft and related equipment through inspection, servicing and repair work.

The company’s customer mix places it across commercial aviation, defense aviation and power-generation markets. The report did not provide revenue, employee count or details on RH Aero’s product lines.

What Capitol Meridian said about the deal

Adam Palmer, founding partner of Capitol Meridian Partners, said in a statement cited by PE Hub that RH Aero had developed a business marked by market leadership, technical capabilities, international reach and customer commitment. Palmer said Capitol Meridian plans to work with Dieter Moeller, Anthony Turner and the RH Aero team to support growth, broaden capabilities and build on the company’s current momentum.

The statement did not specify the size of Capitol Meridian’s investment, the expected closing date or any operational changes planned after the transaction.

Who advised on the RH Aero transaction?

Vistina is serving as financial adviser to RH Aero, according to PE Hub. Taft Law is serving as legal adviser to RH Aero, with Taylor Wessing acting as European counsel.

Macquarie Capital is serving as financial adviser to Capitol Meridian Partners, while Latham & Watkins LLP is serving as legal adviser. MidCap Financial will provide debt financing for the transaction, PE Hub reported.

Debt financing means a lender supplies borrowed capital that is expected to be repaid under agreed terms. The report did not disclose the amount of debt, the interest rate, maturity or other financing terms.

This story draws on original reporting from PE Hub.