DENVER, May 14, 2012 /PRNewswire/ --Platte River Ventures ("Platte River"), a Denver, CO based private equity firm, announced the sale of its portfolio company, PRV Aerospace, LLC ("PRV Aerospace"), to an affiliate of Court Square Capital Partners ("Court Square"), a private equity firm headquartered in New York, NY.

Headquartered in Everett, WA, PRV Aerospace is an aerospace and defense group that supplies components, subassemblies and assemblies to the world's leading manufacturers of aircraft, aero-equipment and other defense platforms. Comprised of six operating facilities, PRV Aerospace performs complex machining of hard metals and aluminum, sheet metal fabrication, assembly and test, repair and overhaul, and lower tier supply chain management. Platte River formed PRV Aerospace in January 2010 by consolidating the four aerospace operating companies it had acquired between 2006 and 2008, and PRV Aerospace subsequently completed two strategic add-on acquisitions in 2010 and 2011.

"We are proud of the business that Platte River and PRV Aerospace management have built over the past six years, which is the result of our vision to develop a leading aerospace and defense supplier," said Platte River Managing Director Greg Sissel. "Richard Wood and his team have built a strong foundation from which the business can continue to grow into an even more strategic supplier to the leading OEMs and Tier-1s."

"We have had an exceptional relationship with Platte River, and my team and I have valued their strategic insight and guidance over the past several years," said Richard Wood, CEO of PRV Aerospace. "We are pleased that this sale will deliver attractive returns for Platte River's investors and wish them continued success. We now look to build on the strong base we created in close partnership, this time with Court Square."

Bartlit Beck Herman Palenchar & Scott LLP served as legal counsel to Platte River, and Bank of America Merrill Lynch served as the exclusive financial advisor to PRV Aerospace.

About Platte River Ventures

Based in Denver, CO, Platte River Ventures is a private equity firm focused on investments in lower middle market operating companies with enterprise values generally between $20 million and $250 million, as well as strategic add-on investments. The firm focuses on investing in aerospace & transportation, industrial & energy services and chemicals, metals & minerals. Platte River Ventures currently manages funds with committed capital in excess of $300 million. For more information, please visit http://www.platteriverventures.com.

About Court Square Capital Partners

Court Square is one of the most experienced teams in the private equity industry. Since 1979, the team has made over 200 investments including several landmark transactions and has developed numerous businesses into leaders in their respective markets. Based in New York, Court Square invests in companies that have compelling growth potential. The Firm manages over $3.5 billion in aggregate capital commitments while focusing on the following four sectors: business services, general industrial, healthcare and technology/telecommunications. For more information, please refer to the Court Square website at http://www.courtsquare.com.

About PRV Aerospace

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Platte River Ventures Announces Sale of PRV Aerospace, LLC