XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as the exclusive advisor to Innodyne Systems (Innodyne) on its investment by FCAH Aerospace (FCAH), a portfolio company of O2 Investment Partners.

Innodyne, based in Bloomfield, CT, is an FAA/EASA Part 145 repair station specializing in MRO, DER, and OPP component services for airframe, composite, and electronic components. Established in 2004, Innodyne serves a broad mix of commercial, regional, and business jet customers, differentiating itself through extensive engineering capabilities with over 400 unique DER and OPP repairs in-house. Their expertise in composite and metallic structures includes flight controls, doors and fairings, radomes, wing leading edges, nacelles, exhaust, and various mechanical assemblies. Innodyne’s electronic lab specialties include control panels, control units, position transmitters, junction boxes, drain masts, power supplies, and wiring harnesses.

FCAH, headquartered in Louisville, KY, distributes aftermarket aircraft components worldwide, performs FAA-certified maintenance, repair, and overhaul services, and provides end-of-life aircraft disassembly and storage solutions. FCAH operates additional support locations in Miami, FL; Sunrise, FL; Victorville, CA; Istanbul, Turkey; and the United Kingdom. XLCS represented FCAH in their sale to O2 in 2020 and represented Aviation Inflatables and Survival Products in their investment by FCAH in 2022.

“XLCS has been a pleasure to work with and highly attentive to our transaction at every step of the process,” said John Mozonski, President of Innodyne. “Their experience in the aerospace industry enabled them to connect us with a great match in a matter of weeks rather than months.”

XLCS acted as the exclusive M&A advisor to Innodyne, and the transaction was led by Joe Contaldo, Partner and Head of XLCS’s Aerospace & Defense Practice Group, and Reed McMahon, Senior Associate. The transaction was completed on July 19, 2024.

About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. More information is available at www.xlcspartners.com.

XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce it served as exclusive advisor to J & R Dairy Service, Inc. and Joe & Ross, Inc. (Joe & Ross), on their sale to GlacierPoint Enterprises, Inc. (GlacierPoint), a portfolio company of Mill Point Capital LLC. Going forward, Joe & Ross will operate as the Great Lakes Division of GlacierPoint.

Joe & Ross, headquartered in Chicago, Illinois, is a premier direct store delivery (DSD) distributor of frozen and refrigerated food products in the Chicago-metro area. Founded in 1965, Joe & Ross has built a stellar reputation with a wide range of partner brands including Nestlé, Häagen-Dazs, Ben & Jerry’s, Edy’s, Nesquik, and Breyers. Joe & Ross serves a diverse customer base comprised of retail store chains, drug stores, independent corner stores, gas stations, schools, restaurants, sports stadiums, and food e-commerce websites.

GlacierPoint, headquartered in The Bronx, New York, is one of the nation’s leading DSD distribution and logistics platforms. Serving as the exclusive DSD distributor of Dreyer’s Grand Ice Cream and Unilever Ice Cream, GlacierPoint features brands such as Häagen-Dazs, Ben & Jerry’s, and Nestlé Ice Cream. In addition to ice cream, GlacierPoint distributes a variety of fresh and frozen products, servicing a territory that spans from the U.S./Canadian border to South Carolina. Recognized for its dependability, reliability, and consistency, GlacierPoint distributes to grocery store chains, independent supermarkets, delis, drugstores, convenience store chains, and foodservice customers.

“Selling our family-owned business of almost 60 years was both nerve-racking and exciting,” shared Ross Purpura, co-owner of Joe & Ross. “Bob Contaldo, Matt Crabtree, and the entire XLCS team dedicated endless hours to not only find us a buyer but the right buyer—one that shared our family principles. They expertly guided us through both the business and emotional aspects of the sale, ensuring our company was in the best hands with GlacierPoint.”

“It is a privilege to be part of the history of Joe & Ross,” said Bob Contaldo, XLCS Managing Partner. “Representing family shareholders and helping them realize the rewards of their hard work across generations is truly gratifying. We are excited to have found a partner who will not only grow the business but also uphold the proud legacy of this great company.”

About XLCS Partners, Inc.
XLCS Partners is an investment banking firm providing M&A advisory services to select clients globally. More information is available at www.xlcspartners.com.