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Hartzell Aviation announced Monday that private equity firm Arcline Investment Management has signed a definitive agreement to acquire the company from Tailwind Technologies.
Hartzell is known for designing and manufacturing proprietary aircraft subsystems and aftermarket components, operating under two business units, Hartzell Propeller and Hartzell Engine Tech. The Hartzell Propeller side of the business is a global leader in the design and manufacturing of high-performance propeller systems, components and accessories. Hartzell Engine Tech designs, manufactures and supplies aircraft engine accessories and adjacent products like turbochargers, starters, alternators, starter adapters, fuel pumps, magnetos, cabin heaters, exhaust systems and engine mounts.
"As investors exclusively focused on Critical Suppliers to Critical Industries, Hartzell's portfolio of flight-critical propeller and engine subsystems for a large and long-lived installed base fits perfectly with Arcline's strategy," Arcline said. "We are excited to partner with the Hartzell team to carry on its legacy generated over the past 100 years and facilitate the Company's next phase of growth."
Hartzell Aviation has a history dating back to the early days of modern aviation with the Wright brothers. The company was founded in 1917 and has grown its presence across the world in propeller design and manufacturing technology for general aviation applications. In 2021, Hartzell Propeller acquired Tanis Aircraft Products and expanded its heating product line to include systems for propeller de-ice, piston engine preheat, turbine engine preheat, helicopter preheat, avionics, battery and cabin preheat. In August, Forbes named Hartzell Propeller to the 2023 list of America's Best Small Employers.
"Our family has been blessed to be the stewards of Hartzell Aviation for 37 years," Hartzell Aviation President Jim Brown said. "As we look to the future, we believe Arcline fully embraces our core value - Built on Honor - and will bring the skills and resources to build on over a century of excellence and innovation."