Greenwich Sells Three of Its Component Distributors

Greenwich AeroGroup is reshaping its portfolio with the sale of three of its aerospace component distributors—Aero Precision Industries, DAC International and NASAM—to private investment firm Odyssey Investment Partners. Terms of the sale, completed earlier this month, were not disclosed.

Greenwich AeroGroup had acquired DAC International and NASAM in 2009, while it picked up Aero Precision Industries in 2013. The acquisitions had increased its reach in international military and government markets, as well as spread its holdings on both the component manufacturing and distribution side. The three had been operated as a single business unit.

“It has been our privilege to work alongside these three great companies and their people, and we are heartened by the relationships that have been built between them and the rest of our companies,” said Greenwich AeroGroup president and CEO Jim Ziegler. “We look forward to continuing to partner with them on future projects.”

Greenwich AeroGroup, which is a portfolio company of Berkley Capital, added that it plans to continue to look for new potential aviation acquisitions. Odyssey is a middle-market investment firm that has holdings in the aerospace, energy, businesses services, healthcare, packaging and other industries.