Raymond Chabot Grant Thornton acted as exclusive financial advisor to Leesta Industries.
Raymond Chabot Grant Thornton’s ("RCGT") Corporate Finance team is pleased to have advised Leesta Industries Ltd. ("Leesta") on its sale to Pursuit Aerospace ("Pursuit"), a portfolio company of Clayton, Dubilier & Rice and Greenbriar Equity Group.
Founded in 1964 by Ernest H. Staub, who began manufacturing precision parts on a Swiss-made lathe in the basement of his Montreal-area home, Leesta Industries has built a 60-year legacy of trust and excellence in the aerospace and defense industry. Headquartered in the heart of Montreal’s world-class aerospace cluster, the family-owned company specializes in the manufacturing of high-precision aeroengine components for some of the industry’s most demanding programs. Led by the second generation of the Staub family, Leesta has earned the trust of blue-chip aerospace OEMs including Pratt & Whitney through an unwavering commitment to quality, lean manufacturing practices, and a pioneering approach to innovation and automation.
The acquisition by Pursuit expands its aeroengine machining and fabrication capabilities, enhancing its ability to serve customers across the aeroengine value chain. The transaction represents Pursuit’s fifth acquisition since the company’s founding in 2023.
“Leesta represents a highly strategic addition to Pursuit Aerospace that aligns closely with our growth priorities,” said Doug Folsom, Chief Executive Officer of Pursuit Aerospace. “This acquisition expands our component offerings on several key Pratt & Whitney engine platforms, deepens the technical capabilities of our aeroengine machining operations, and creates additional opportunities to leverage Pursuit’s integrated forging and casting capabilities.”
“Partnering with Pursuit Aerospace creates exciting new opportunities for both our customers and our employees. I am confident Pursuit’s scale, broad capabilities and commitment to manufacturing excellence will support Leesta’s continued growth and success for years to come,” said Ernest A. Staub Jr., President and Chief Executive Officer of Leesta.
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About Pursuit Aerospace
Pursuit Aerospace (www.pursuitaero.com) is a leading global manufacturer of complex, high-tolerance components for aeroengine and other aerospace applications. Pursuit provides scaled and vertically integrated capabilities, including forgings, castings, machined and fabricated parts, and component MRO services. The company serves OEM and Tier 1 aerospace and defense customers worldwide through highly integrated processes and lean production systems. Pursuit is backed by Clayton, Dubilier & Rice, one of the oldest and most experienced private equity firms with over $40 billion in managed investments across more than 100 companies, and Greenbriar Equity Group, a leading private equity firm with $10 billion in cumulative capital commitments and a significant track record in the aviation, aerospace, and defense sectors.
About Raymond Chabot Grant Thornton
Raymond Chabot Grant Thornton is a Canadian leader in the areas of assurance, tax, advisory services and business recovery and reorganization.
Our leading mid-market-focused corporate finance advisory team provides sector-specific advice on mergers, acquisitions and divestitures, as well as debt and equity capital markets. Our team brings deep industry knowledge to each transaction in support of our clients’ strategies and priorities.
By leveraging our extensive experience working with mid-market businesses, our understanding of shareholder objectives, our approach to deal structuring and our creative solutions, we strive to achieve a transaction process that leads to a successful outcome for all stakeholders.
Raymond Chabot Grant Thornton is Quebec’s leading professional services firm with more than 3,200 employees. As a member firm of Grant Thornton International and together with its Canadian counterpart Grant Thornton LLP, the firm is a member of one of the world’s largest professional services networks of over 80,000 people in more than 150 markets.
