Fort Worth-based Coltala Holdings today announced the creation of Coltala Aerospace through the acquisition of Mansfield-based AeroParts Group (APG), whose growth was said to surpass 60% over the last year.

The new Coltala Aerospace entity brings together three APG businesses—Evans Composites, APM, and ACD Consulting—serving both commercial and military aerospace with precision machining, FAA Part 145 MRO repair station services, and engineering expertise.

With the launch, Coltala said it aims to advance the country’s aerospace and defense industries with “a transformative platform.” In line with the purpose-driven holding company’s focus on mission and margin, it characterized the acquisition of APG as a commitment to backing businesses that make up “the backbone of America,” supporting safe air travel, and strengthening national defense.

National security and supply chain reliability are more critical than ever, Coltala Co-Founder and co-CEO Edward Crawford said in a statement, adding that “Coltala Aerospace is well positioned to meet these challenges and turn them into opportunity.”

Crawford, a Navy veteran, said that the company is set to create opportunities for veterans while strengthening America’s position in the global market.

A ‘hands-on’ approach to growth

Coltala explained that it spent four months working side by side with APG’s management team before completing the acquisition, aiming to foster alignment and a strong working relationship. The company said APG CEO Dale Gabel and Founder/COO Ricky Armstrong will continue in their leadership roles under the newly formed Coltala Aerospace umbrella.

Coltala Holdings co-CEO and Co-Founder Ralph Manning, said his company partnered with APG because of Gabel and Armstrong’s “exceptional leadership”  and the team’s dedication to operational excellence and innovation, noting its “relentless focus drove impressive year over year growth.”

Now, he said, “Coltala’s enterprise system will unlock even greater potential.”

In the announcement, APG’s Gabel said Coltala’s involvement “brings fresh energy and resources” to its team, while Armstrong called the acquisition “a new chapter” for the business.

Dallas-Fort Worth as an aerospace hub

Coltala called Dallas-Fort Worth “a vital hub for aerospace and defense,” referencing the region’s legacy as a national cornerstone for the industry. Coltala Aerospace is “modeled after successful platforms like Heico in Florida,” uniting top-tier aerospace providers with a collective goal of advancing commercial and defense capabilities, according to the company.

“We’re not only supporting America’s aerospace and defense sectors but also leading the way in building a future where innovation and purpose drive national success,” the company added.

Financial partners and future acquisitions

To finance the transaction, Coltala partnered with Thornburg Bow River Advisors—a joint venture of Thornburg Investment Management, a global investment firm founded in 1982 in Santa Fe, and Bow River Capital, a private alternative asset manager founded in 2003 in Denver. The firm’s private credit team provides flexible capital solutions to businesses in the lower and middle market, Coltala noted.

In a statement, Aaron Arnett, managing director and head of private credit at Thornburg Bow River Advisors, said “Dale, Ricky and the APG team have laid the groundwork for an extraordinary platform, providing meaningful contributions to the aerospace and defense industries. We’re excited to support their next phase of growth alongside Coltala.”

Coltala credited Dustin Gibson and Hayden Greenbauer of Sunflower Bank as additional key financing partners.

Looking ahead, Coltala said it plans to “shape the future of aviation and defense” by seeking out other aerospace businesses whose leaders want to “take [their] operations to the next level.”

With “over $300M deployed into mission-driven, high-margin businesses” to date, Coltala acquires and scales founder- and family-owned businesses in Texas, focusing on essential industries like real estate, aerospace, and home health.

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