OKLAHOMA CITY–(BUSINESS WIRE)–Acorn Growth Companies, a private equity firm investing exclusively in
aerospace, defense and intelligence, announced today the acquisition of
DIMO Corporation (DIMO), headquartered in New Castle, Delaware.
Founded in 1994, DIMO has established itself as a leading value-added
distributor of operationally critical parts and higher-level assemblies
for power, electromechanical, life support and mission-specific aircraft
“With its reputation in the Aerospace & Defense industry as a trusted
advisor to leading OEMs of flight critical parts and government
customers, DIMO has positioned itself in the U.S., Middle East, Europe,
Latin America and Asia as a critical enabler of maintenance, repair,
overhaul and upgrade (MRO&U) program execution,” said Rick Nagel,
managing partner of Acorn Growth Companies. “DIMO’s global operating
infrastructure and key relationships with foreign government aerospace
and defense procurement organizations will be a tremendous strategic
asset to the Acorn portfolio.”
Sohrab Naghshineh, DIMO’s founder, will continue to serve as its
president focusing on supporting the company’s strategic growth
initiatives as well as assisting other Acorn portfolio companies to
address business opportunities in international markets. Omid Naghshineh
will serve as COO.
DIMO’s core focus is on addressing the part availability challenges that
impair the operations of military aircraft fleet operators globally.
DIMO has positioned itself at the nexus of post-production support on
high-value systems for military aircraft fleets. DIMO provides
mission-critical parts availability solutions for military aircraft,
leveraging long-term exclusive distribution agreements with military
system OEMs and its extensive government customer and vendor networks in
the U.S., Middle East, Europe, Latin America and Asia to position itself
as a critical enabler of maintenance, repair, overhaul and upgrade
(MRO&U) program execution.
“We could not have picked a better partner than Acorn Growth Companies.
We have been impressed with the expertise and professionalism of the
entire Acorn team,” said Sohrab Naghshineh, founder of DIMO. “The
combination of Acorn’s strong reputation and performance in Aerospace,
Defense and Intelligence and DIMO’s extensive inventory and numerous
contacts globally for both military and commercial aircraft will be a
powerful growth driver for both DIMO and Acorn.”
Terms of the transaction were not disclosed.
DIMO provides mission-critical parts availability solutions
for military aircraft operated by the U.S. and its allies. Founded in
1994 in New Castle, Delaware, DIMO has established itself as a leading
value-added distributor of operationally critical parts and higher-level
assemblies for power, electromechanical, life support, and
mission-specific aircraft systems.
Acorn Growth Companies is a middle market private equity firm
focused exclusively on Aerospace, Defense and Intelligence. Acorn
invests solely in operating companies that strive to enhance global
mobility and protect national interests. Acorn has a formidable
reputation in the industry and is recognized for its deep understanding
of the Aerospace & Defense markets, with proprietary access to the best
companies within these sectors. With operational expertise and its
ability to lead and manage investments through variable economic and
industry cycles, Acorn works in tandem with management to build its
portfolio companies into significant market leaders. AcornGrowthCompanies.com
Kath Searle, Acorn
Brandon Bradford, Acorn