CHICAGO, February 12, 2015 – Mesirow Financial acted as the exclusive financial advisor to Armstrong Aerospace (“Armstrong” or the “Company”) on its sale to Astronics Corporation (“Astronics”), a leading provider of advanced technologies to the global aerospace and defense industries.
Headquartered in Itasca, IL, Armstrong is a leading provider of engineering, design and certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment and electrical power systems. Further, the Company designs and produces a range of proprietary, highly-engineered product solutions, including Birdstriker™, PowerBar™ and Powerbox™. Armstrong is a value-added partner to customers, providing turnkey solutions ranging from product conception to certification.
Armstrong’s CEO commented, “We are excited to partner with Astronics and are confident our strategic alignment will enhance our combined ability to provide innovative solutions to the aerospace industry. Mesirow Financial’s thoughtful guidance and dedicated service throughout the process resulted in a successful outcome for all parties involved.”
Andrew Carolus, managing director of Mesirow Financial’s Investment Banking group said, “Mesirow Financial was honored to represent the owners and management of Armstrong. We believe Armstrong’s innovative product offerings, entrepreneurial spirit and significant experience in providing engineering and certification solutions complement Astronics’ current platform and will allow for continued strong growth.”
About Astronics Corporation
Astronics Corporation (Nasdaq:ATRO) is a leader in advanced, high-performance lighting, electrical power, specialized avionics products and automated test systems for the global aerospace and defense industries. Astronics' strategy is to develop and maintain positions of technical leadership in its chosen aerospace and defense markets, to leverage those positions to grow the amount of content and volume of product it sells to those markets and to selectively acquire businesses with similar technical capabilities that could benefit from our leadership position and strategic direction. Astronics Corporation, through its wholly-owned subsidiaries, has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. The Company routinely posts news and other important information on its Web site at www.astronics.com.