Meridian Capital LLC (“Meridian”) is pleased to announce that Blast Deflectors Inc., (“BDI” or the “Company”), the leading provider of jet blast deflectors (“JBD”) and ground run-up enclosures (“GRE”) to airports globally, has been acquired by Hanover Partners in partnership with Greyrock Capital Group and Northstar Capital. Meridian served as the Company’s exclusive financial advisor on the transaction.
BDI was founded in 1957 by the pioneering engineer, Stanley Lynn. BDI products improve safety, maximize space and minimize aircraft run-up noise for airports and military facilities worldwide. Over its 60-year history, BDI has set the standard in industry innovation, developing a broad intellectual property portfolio through continuous investments in research and development. The Company has delivered noise reduction and safety solutions to airports across six continents. The sale will provide the Company with additional resources to accelerate international growth opportunities. As part of the transaction, the current management team will remain in their existing roles.
“This transaction reflects a major milestone for both our family and the business. Hanover, Greyrock and Northstar are the best possible partners to BDI to pursue new opportunities and maintain the legacy and culture built over the past 60 years,” said Christopher Lynn, majority shareholder of BDI. “Meridian’s transactional experience coupled with their knowledge of the aviation industry brought great value. Additionally, their commitment to transparency and ability to communicate complex issues made the closing of this transaction possible.”
“Our team is thrilled to have had the opportunity to serve as a trusted advisor to a true global leader in BDI,” said Brian Murphy, Meridian’s President and Managing Director. “We believe this transaction will allow the Company to more effectively capitalize on international growth trends that are driving demand for its innovative products, such as record air traffic growth and accelerated airport infrastructure spending globally.”
The BDI sale represents Meridian’s 12th completed aerospace and aviation transaction over the past five years, further positioning Meridian’s Aerospace Practice Group as a national leader in the industry.