Leading commercial law firm Hill Dickinson has advised Sentry Aerospares, a portfolio company of US private equity investor Acorn Capital Management on the successful closing of a single-asset continuation fund to extend and deepen its partnership with Acorn.
Acorn, whose portfolio is focused on aerospace, defence, intelligence and space sectors, originally invested in Aerospares 2000 in 2019 and again upon its 2022 merger with Sentry Aerospace, which subsequently rebranded as Sentry Aerospares. Hill Dickinson’s Corporate team acted as legal adviser to Acorn on both previous transactions.
Since then, the business has more than doubled, with a client base of over 600 global customers including airlines, lessors, cargo operators and MROs.
Hill Dickinson partner Nick Dawson led on the provision of legal advice to Acorn, together with legal director Matt Smith and associate Alex Bloomer, assisted by Alasdair Mackinnon (partner) and Beth Finnie (legal director) of the firm’s Banking team.
As Acorn’s Capital Management’s and Sentry’s UK lawyers, we’ve worked closely with the investment team over a number of years. The use of a single-asset continuation fund to extend that partnership at this point and allow new investors to come on board heralds the start of a new phase in the company’s growth. We wish both parties every success in taking this next exciting step together.Nick Dawson
Partner
Nick Dawson said: “As Acorn’s Capital Management’s and Sentry’s UK lawyers, we’ve worked closely with the investment team over a number of years. The use of a single-asset continuation fund to extend that partnership at this point and allow new investors to come on board heralds the start of a new phase in the company’s growth. We wish both parties every success in taking this next exciting step together.”
Greg Agnew, partner at Acorn, added: “The continuation fund transaction reflects our deep conviction in the value Sentry Aerospares brings to the global aviation aftermarket. We are proud to continue our partnership with the management team and founders and look forward to accelerating Sentry’s already impressive momentum through strategic investment and expansion.”
The new capital will support Sentry’s global growth strategy, including further inventory expansion, technology upgrades and potential acquisitions to enhance its supply chain resilience and customer service capabilities.