This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Littlejohn & Co. Announces Sale Of Synchronous Aerospace Group To Precision Castparts Corp.

Stocks in this article: PCP

GREENWICH, Conn., Nov. 26, 2012 /PRNewswire/ -- Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced today that it has signed a definitive agreement to sell its portfolio company, Synchronous Aerospace Group, to Precision Castparts Corp. (NYSE: PCP). 

Headquartered in Santa Ana, CA, Synchronous is a leading supplier of complex assemblies and precision components that serve mission-critical functions on aircraft in the commercial aerospace and defense markets.  The Company differentiates itself through expertise in producing highly complex mechanical assemblies, which include high-lift mechanisms and secondary flight controls, as well as structural assemblies, which include wing ribs, bulkheads, and track and beam assemblies.  Synchronous' core capabilities include gantry machining, hard-metal machining, high-speed machining, turning, sheet-metal forming, and metal and composite bonding.  These capabilities reside at four core operational centers of excellence in: Wichita, KS; Santa Ana, CA; Kent, WA; and Tulsa, OK.  Synchronous products are used on many of the world's most-established commercial, military and space platforms.  The Company employs approximately 700 people across its facilities. 

"Under the leadership of Ron Case over our ownership period Synchronous developed and executed against a set of meaningful strategic and operational initiatives to both expand the Company's book of business as well as enhance its profitability, all while creating an enterprise that is an integral part of its aerospace customers' supply chains," said Edmund J. Feeley, Managing Director of Littlejohn.  Antonio Miranda, a Managing Director of Littlejohn, added, "We are confident that Synchronous will continue to develop as a valuable asset within Precision Castparts, and as a result, better capitalize on the enormous market opportunities that exist.  We wish Ron and the team all the best in the next step of their journey."

Ron Case, President and Chief Executive Officer of Synchronous, said, "It was a great pleasure to work with the Littlejohn team who gained a deep understanding of our business and operations, and were deeply engaged in helping us plan and execute on our targeted operational initiatives.  We thank them for their support.  The Synchronous management team is excited as we enter into our new partnership with Precision Castparts and looks forward to continuing to grow the business."   

Lazard acted as the exclusive financial advisor to Synchronous.  Morrison Cohen LLP acted as legal counsel to Synchronous.  The transaction is expected to close by yearend 2012.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs