SC&H Capital served as the exclusive financial advisor to Ridge Engineering, Inc. (“Ridge”) and The Bechdon Company, Inc. (“Bechdon”) on their sale to the HEICO Corporation.
Ridge is a leader in tight-tolerance machining and brazing of large-sized parts in mission-critical defense and aerospace applications. Bechdon is a machining and fabrication company and is a key subcontractor for subcomponents used in Ridge’s final assemblies.
Both companies were owned by Robert Tracey, whose son, David, was the long-time president of Ridge and provided strategic oversight to Bechdon. The Tracey family asked SC&H to help them assess options that would allow for Mr. Robert Tracey to achieve some liquidity for estate planning purposes while allowing David to continue running Ridge with a preserved culture and legacy the family worked so hard to build.
SC&H Capital leveraged our deep knowledge of the Aerospace and Defense industry to lay out multiple potential liquidity options for the Tracey family. We advised on the pros and cons of each option and helped the family select an option that was most aligned with their goals. Ultimately, SC&H executed a highly customized M&A process to identify a strategic partner that appreciated the Companies’ mission-critical capabilities and met the family’s goals.
Ridge and Bechdon were acquired by HEICO Corporation, a publicly traded technology-driven aerospace, industrial defense, and electronics company. The partnership with this buyer proved to be the best possible outcome for all parties—the Tracey Family, management, and HEICO. Ridge and Bechdon provide HEICO with a range of new capabilities and industry-leading leadership, while HEICO provides a home that will support the companies’ unique brand and culture, as it heads into the next level of growth and success.
