NEW YORK, June 12, 2025 – Proskauer, a leading international law firm, announced today that it advised Acorn Capital Management (“Acorn”), a private equity firm focused on the aerospace, defense, intelligence and space sectors, on the closing of a single-asset continuation fund to extend and deepen its partnership with Sentry Aerospares. Sentry Aerospares is a global leader in the distribution of high-value, hard-to-find commercial aircraft rotable components. Kline Hill Partners and LSV Advisors co-led the transaction.
The transaction provides a liquidity option to existing investors while securing additional capital commitments from new investors to support Sentry’s global growth strategy, including further inventory expansion, technology upgrades and potential acquisitions that enhance its supply chain resilience and customer service capabilities.
The continuation fund transaction follows Acorn’s original investment in Aerospares 2000 in December 2019 and its July 2022 merger with Sentry Aerospace, which rebranded as Sentry Aerospares in October 2022. Since then, the business has more than doubled and established itself as the leading independent stocking distributor of high-value, minimum equipment list rotables, with transatlantic stocking locations and a client base of over 600 global customers including airlines, lessors, cargo operators and MROs. Sentry is recognized for its leadership position in rapid Aircraft on Ground (“AOG”) support and unmatched inventory availability.
The Proskauer team was led by partners Chris Robinson and Blake Halperin (Private Funds) and partner Lauren Boglivi and senior counsel Lara Miller (M&A). It also included partner Ryan Carpenter and associates Alexander Starr, Maegan O’Rourke, Nicole Pidala and Brendan Conroy (Private Funds); partners Janicelynn Asamoto Park, Frazer Money and Jeremy Naylor and associates Ameya Mithe, Philip Lenertz, Sean Webb, Emma McDonnell and Carrie Slaton (Tax); and partner Rob Day and associates Adya Garg, Timothy Kim, Francie Kelley and Bryanna Wilbor (M&A).
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Proskauer’s market-leading global secondaries team has provided in-depth advice on all aspects of the secondaries market since the inception of the industry. Long recognized as the top destination practice for secondaries buyers and secondaries fund formations, Proskauer’s expertise touches all aspects of the secondaries market. The firm acts on the most high-profile LP portfolio transactions and cutting-edge GP-led deals and represents a multitude of market participants including a range of buyers, sellers, GPs, lenders and lead and syndicate investors in continuation vehicles.