Transaction Represents Vance Street’s Fourth Platform Investment out of its Third Fund and Twelfth Acquisition in the Last Year
LOS ANGELES, CA – October 21, 2021 — Vance Street Capital LLC (“Vance Street”), a Los Angeles-based private equity firm, today announced the acquisition of McFarlane Aviation, Inc. (“McFarlane”), the leading designer and manufacturer of aftermarket PMA parts for the general aviation industry. This proprietary transaction represents the fourth platform investment out of Vance Street Capital III L.P. and leverages the firm’s expertise in aerospace and highly engineered components. Terms of the transaction were not disclosed.
Founded in 1970 and headquartered in Baldwin City, Kansas, McFarlane is a family-owned business that designs, manufactures, and distributes more than 30,000 consumable parts in the United States and internationally for the general aviation market, specifically light single engine and turboprop aircraft. McFarlane’s proprietary portfolio of PMA parts consists of approximately 3,000 parts used across Cessna, Piper, Grumman, Beechcraft and Ag-Cat airplanes. The parts are sold to over 40,000 unique customers through McFarlane’s website and its widely distributed catalog.
McFarlane was founded by Dave McFarlane, who was subsequently joined by his children, Dan and Cheryl. Together, they built McFarlane into the market leader it is today. As part of the transaction, the McFarlane family will retain a meaningful ownership position alongside Vance Street. “Finding a partner that could come in and provide not only growth-based resources, but also one that valued the culture and employee base our family has built over the past several decades was an important decision factor in finding our next partner,” said Dave McFarlane. “Vance Street truly understood and respected those aspects of our business.”
“Vance Street is honored to have the opportunity to partner with an iconic business like McFarlane,” added Nicholas Janneck, Principal at Vance Street. “Over the last 50 years, Dave and his team have built a truly great company well known as a leader in its market. With Vance Street’s additional support and capital, McFarlane is expected to accelerate its already impressive growth trajectory.”
“This transaction is a perfect example of our strategy to partner with family-owned businesses that are industry leaders in a niche market,” said John LeRosen, Partner at Vance Street.
Paul Hastings LLP acted as legal advisor to Vance Street. Debt financing was provided by BMO Sponsor Finance. Dentons served as legal advisor to McFarlane and the McFarlane family.
About Vance Street Capital LLC
Vance Street Capital is a middle-market private equity firm focused on investing in highly engineered solutions businesses across the medical, life science, aerospace, defense, and industrial sectors. For over three decades, Vance Street’s partners have worked with management teams and family owners to accelerate revenue growth, improve operations and acquire strategic assets for the companies in their investment portfolio. For more information please visit: www.vancestreetcapital.com.