Headquartered in Bedford Park, IL, Northstar Aerospace, Inc. ("Northstar") is a leading manufacturer of flight-critical and non-flight-critical parts for military and commercial aircraft applications. The company provides a broad base of complex and highly engineered products including gears, housings, assemblies and shafts for helicopter transmission systems. Northstar has strong, long-term relationships with key OEMs in the aerospace and defense industry and enjoys an exclusive position on two key defense helicopter programs.
Northstar, formerly a public company listed on the Toronto Stock Exchange, became financially distressed as a result of a number of external factors and certain legacy liabilities. Wynnchurch acquired substantially all of the operating assets of Northstar through insolvency proceedings in both the U.S. and Canada.
Northstar represents a unique opportunity to acquire a market leader in the aerospace and defense sector at an attractive valuation in a bankruptcy process. With access to previously unavailable resources, management will focus on implementing quality tools and advanced management systems to continue driving significant performance improvement.
Wynnchurch will work with management to continue to improve systems and processes, to improve customer satisfaction and to drive continuous improvement in the company’s operations. Northstar will also launch initiatives to win new business with new and existing customers and evaluate strategic add-on acquisitions.