PRV Aerospace CEO Richard Wood said the company chose to acquire Astro Spar for its aircraft platform positions, the strength of its management team and its presence in the commercial aerospace market. “Astra Spar will fit well with our existing businesses and overall strategic direction,” Wood said in a statement. “We look forward to partnering with the Astro Spar management team, which will continue to be led by Omar Khan, and the employees, to build on the company’s excellent reputation and further expand the range of products and services we offer to our customers.”

   Debt financing for the transaction was provided by GE Antares Capital and Ares Capital Corp.