Transaction Solidifies a Global Ecommerce Strategy and Deepens Leadership in the MRO Segment
ARLINGTON, Texas, July 27, 2022 /PRNewswire/ — GracoRoberts has acquired New York-based Styles Aviation, Inc. (dba SkyGeek.com) (“SkyGeek”) to cement its standing as the largest, fastest, and most technically focused aerospace specialty chemicals distributor around the globe.
The combination with SkyGeek addresses the evolving needs of GracoRoberts’ customers and supplier partners by significantly expanding GracoRoberts’ global ecommerce capabilities and its offerings in the MRO segment. With the addition of SkyGeek’s extensive online portfolio of shop and hangar products (including specialty chemicals, avionics and instruments, tools and equipment, and aircraft and engine parts), GracoRoberts now provides the global aerospace community with immediate access to over 100,000 products – with 25,000 in-stock at any given time – an offering that redefines the customer experience and works to ease industry-related supply chain challenges.
SkyGeek provides 30,000 online customers on-demand access to thousands of aerospace consumables, serving the aerospace community with digital sophistication, nimbleness, and family-style care. For GracoRoberts’ existing customers, SkyGeek’s website (www.skygeek.com) offers new procurement opportunities and a fast, simple, and convenient buying experience – at the same time, SkyGeek’s customer base will benefit from a larger portfolio of products and channel partners in the specialty chemicals space from GracoRoberts. SkyGeek will maintain its operations in LaGrangeville, NY, and be an important distribution hub for the combined company in the Northeastern United States.
“We are thrilled to have the Styles and the SkyGeek team join the GracoRoberts family as we solidify our position as a global and digital leader in aerospace specialty chemicals distribution,” said Jason Caldwell, President and CEO of GracoRoberts. “Together, we are laser-focused on bringing more products and solutions to our customers faster than ever before. Given the supply chain challenges we have all faced as an industry, our customers deserve a more streamlined and simplified buying experience – and we are ready to deliver.”
Steven Styles, CEO of Styles Aviation, Inc., and Janelle Styles, President, both added, “The SkyGeek culture is centered on making Aerospace ecommerce transactions as frictionless as possible through great usability, exceptional service, and immediate access to products – we truly believe that our mission is to supply the skies. That ‘do whatever it takes’ mentality is fully aligned with GracoRoberts, which is what makes this relationship such a natural fit, and we are honored to be a part of GracoRoberts.”
The acquisition of SkyGeek is supported by CM Equity Partners, the private equity sponsor of GracoRoberts and partner to the GracoRoberts management team. CM Equity Partners has assisted GracoRoberts in its global and digital strategic growth initiatives and in GracoRoberts’ previous acquisitions of E.V. Roberts, Able Aerospace Adhesives and Sil-Mid Ltd. (known for its ecommerce leadership in the UK / EMEA). CM Equity Partners has over 30 years of experience providing growth capital to the aerospace, defense, and federal services sectors.
About GracoRoberts
Headquartered in Arlington, TX, GracoRoberts (www.gracoroberts.com) is the single largest and most technically focused specialty chemicals distributor to serve the global aerospace market. We are a full-service supplier of complex engineered materials for aerospace OEM and MRO segments, composites, electronics, and other advanced manufacturing industries. We are fully AS- and ISO-certified and authorized to distribute 3M, Airtech, Akzo Nobel, Castrol, Eastman, Henkel, Huntsman, ITW Polymers, Mask-Off, Momentive, Resin Formulators, Scott Bader, Sika, and Zip Chem, and can source other providers upon request. We differentiate by adding value: services include distribution, custom formulation, specialty packaging, vendor managed inventory, intermix paint services, turnkey classified program management, and an on-staff Chemist, lab, and testing facility. For 140 years, GracoRoberts has delivered superior engineered materials with impeccable support to thousands of customers from more than 65 countries and all seven continents around the globe.
About SkyGeek
Founded in 1969 and based in LaGrangeville, NY at Sky Acres Airport, Styles Logistics Inc., (www.skygeek.com) has served the aircraft community as well as the aviation industry at large for over fifty years. In 2003, www.skygeek.com debuted as an ecommerce-based stocking aerospace distributor. Since then, supplying the skies with tools and equipment, shop and hangar supplies (specialty paints and chemicals), aircraft and engine parts, avionics and instruments has been SkyGeek’s mission providing access to nearly 60,000 aerospace products. And while their propeller hat-wearing mascot may indicate a sense of humor, make no mistake: SkyGeek has the market cornered on delivering the items they stock reliably, time and time again providing excellent service to over 30,000 customers in more than 100 countries.
About CM Equity Partners
CM Equity Partners (CMEP) (www.cmequity.com), based in New York, NY, provides capital to the Federal services and aerospace and defense industries. For over thirty years, CMEP has partnered with management teams to build value in its investment companies by leveraging its long-standing industry knowledge, relationships, operating experience, and its corporate finance, M&A, and private equity expertise. CMEP provides an active and collaborative management approach to its investments, developing long-term strategic plans and supporting re-investment of profits to grow and broaden a company’s revenue base and capabilities. CMEP’s investments are structured with flexibility across a broad spectrum of the capital structure, including equity, structured equity, and mezzanine debt.
SOURCE GracoRoberts
