Platte River buys CTS Engines

Platte River Equity said July 26 that it acquired CTS Engines. Financial terms weren’t announced. Company management also invested. Fort Lauderdale, Florida-based CTS Engines provides maintenance, repair and overhaul (“MRO”) services for established engine platforms, specializing in the overhaul of the General Electric CF6-80C2, CF6-80A and CF6-50 engines, as well as the Pratt & Whitney PW2000. Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, while Houlihan Lokey served as debt placement agent. Annaly Middle Market Lending provided financing for the transaction. BlackArch Partners served as sell-side advisor to CTS.

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