• Tinicum/Blackstone and Arcline expected to show interest
• Others that missed on TriMas Aerospace, Novaria may also look

Consolidated Aerospace Manufacturing (CAM) is anticipated to be the next acquisition target after its peers were recently acquired, according to three sources familiar with the deals and a sector advisor.

Last week, TriMas announced it agreed to sell the aerospace segment to Tinicum and Blackstone for USD 1.45bn. Then, earlier this week, Arcline announced it agreed to buy Novaria from KKR for USD 2.2bn.

This news service reported in September that a sale of CAM, which is part of Stanley Black & Decker, was expected to launch towards the end of the year with Goldman Sachs and Evercore advising. The report named TriMas Aerospace and Novaria Group as comps to CAM.

The sources and advisor said they expect Tinicum and Blackstone may try to buy the Brea, California-based aerospace components maker to combine it with TriMas Aerospace. Tinicum previously owned CAM and sold the business to New Britain, Connecticut-based Stanley Black & Decker in 2020 for up to USD 1.5bn.

One of the sources and the advisor added that Arcline may also look at the company, with the source noting that both TriMas Aerospace and Novaria have synergies with CAM. This news service reported this week that Arcline is expected to look to build out the Novaria platform through M&A in the near-term.

Sponsors who missed out on TriMas or Novaria could also turn their attention to CAM, as reported. Veritas Capital was among the suitors that showed interest in Novaria, as reported. The advisor said Veritas Capital will likely pursue CAM. The advisor added that publicly traded, Grandvillars, France-based LISI, which makes assembly solutions, is a logical suitor for CAM.

Other financial sponsors could also step up to buy CAM as there are fewer assets left of this size and scale after TriMas Aerospace and Novaria were acquired, one of the sources said.

Publicly traded Stanley Black & Decker could fetch at least USD 1bn in a sale of the asset, as reported. The tools and industrial products maker is expected to command a double-digit EBITDA multiple in a sale of CAM, as reported.

CAM is part of Stanley Black & Decker’s industrial segment, which generated close to USD 2.1bn in revenue for 2024, representing about 14% of the company’s total revenue of USD 15.4bn.

Stanley Black & Decker’s other segment is tools and outdoor. It has a USD 10.57bn market capitalization.

Goldman Sachs and Arcline declined to comment. Stanley Black & Decker, Evercore, Tinicum, and Blackstone did not return requests for comment.