Nashville, TN-based private equity firm Arcline Investment Management plans to acquire Novaria Group, a supplier of engineered aerospace components and specialty processes, from fellow investment firm KKR in an all-cash transaction valued at $2.2 billion.

Founded in 2011 by CEO Bryan Perkins, Fort Worth, TX-based Novaria supports more than 3,000 customers in aerospace and defense with products found across most Boeing and Airbus aircraft in service. It has approximately 1,600 employees across the U.S.

The pending deal follows Arcline’s $1.8 billion purchase of fellow defense and aerospace component supplier Kaman in 2024.

“Novaria has a proven track record of identifying, acquiring and growing niche aerospace product businesses that share a common culture rooted in innovation and customer service,” Arcline stated in a Nov. 10 news release. “We’re excited to partner with Bryan and the entire Novaria team to continue executing this strategy.”

KKR initially invested in employee-owned Novaria in 2020. Since then, Novaria has more than tripled in size on the strength of 13 bolt-on acquisitions. In conjunction with Novaria’s employee ownership program, all of its employees will receive cash payouts upon transaction closing.

“Novaria is committed to building an enduring, trusted partner to the global aerospace industry,” Perkins added. “Arcline’s deep aerospace experience and growth mentality align perfectly with our long-term vision for Novaria.”