July 8, 2019

Trive Capital Announces Sale of Valence Surface Technologies

Houston, Texas and Dallas, Texas

Trive Capital Fund I (together with its affiliates, “Trive”) announced today that it has sold Valence Surface Technologies, LLC (“Valence” or the “Company”) to ATL Partners (“ATL”) and British Columbia Investment Management Corporation (“BCI”).  Founded in 2013 by Trive, Valence is the leading independent provider of aerospace surface finishing services, which has historically been a highly fragmented, geographically focused, and technically challenging part of the supply chain.  The Company was built to offer a differentiated, full service, supply chain solution for critical, complex parts to the aerospace industry, delivering the lead times, capacity and technical resources needed to match growing aircraft build rate demand.

Since the formation of the Valence platform, the Company has experienced strong growth driven by investment in capacity and next generation technologies, coupled with the targeted acquisition of eight facilities in each major aerospace machining hub.  In addition, Valence has built an exceptional management team, who in partnership with Trive have driven significant improvement in operational execution, process, systems and innovation.  As a result, the Company is well positioned as the sector expands to leverage its strategy of simplifying supply chain complexity for aerospace OEMs and major Tier 1s.

David Stinnett, partner at Trive stated, “Valence is a purpose-built platform aimed to improve and professionalize a complicated niche within the aerospace supply chain, while investing to support future demand.  Trive is appreciative to have partnered with management in executing on this unique strategy via a combination of growth capital, acquisitions, team additions and a focused operational plan.  We are excited Valence will have the opportunity to continue to expand on its leading market position under the ownership of ATL and BCI, and we wish the team well in this new partnership.”

“In less than six years, Valence expanded from one facility in one geography to eight facilities in three centers of excellence with the largest set of approvals and capabilities in the sector,” commented Tracy Glende, CEO of Valence.  “We are proud of our successful partnership with Trive, collaboratively building a business and capability that has resonated with our customers and employees. Trive’s operational, financial and sector expertise were valuable in positioning the Company for growth, and we look forward to continuing this momentum with our new shareholders.”

Lazard served as lead financial advisor to Valence, KAL Capital served as financial advisor and Weil provided legal counsel in the sale to ATL and BCI. BCI’s acquisition of governance rights in the Company remain subject to customary regulatory approvals.

 

About Valence

Valence Surface Technologies is the world’s largest independent provider of aerostructure surface technology services. The Company provides specialized metal processing and finishing services to a diversified set of fast-growing commercial aerospace, defense, and space/satellite markets, delivering best-in-class quality, turn times and supply chain partnership.


About Trive

Trive Capital is a Dallas, Texas based private equity firm with more than $7 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

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