Acorn Growth Companies, a private equity firm investing exclusively in Aerospace & Defense, announced Monday it has acquired aircraft innovation leader, Raisbeck Engineering Inc. headquartered in Seattle, WA.

Founded in 1982 by aeronautical engineer and entrepreneur James D. Raisbeck, Raisbeck Engineering develops, markets and manufactures worldwide-certified performance improvement systems for some of the most prolific commercial and general aviation aircraft models in the market today.

“Thanks to James Raisbeck's vision and the dedication of his team, Raisbeck Engineering is one of the most prominent names in the aviation community, with an exceptional reputation for its innovative contributions to the industry, “said Rick Nagel, Managing Partner of Acorn Growth Companies. “We have a common mission and passion to support the aviation community by delivering the very best in relevant technology advancements, and I couldn't be more proud of this partnership.”

“For the last 35 years, we've been uniquely positioned to deliver advanced technologies to improve the performance, utility and safety of aircraft. We decided to partner with Acorn Growth Companies because we strongly believe that together we can continue to build on our legacy of delivering innovative products while growing our footprint beyond the markets we serve today," said James Raisbeck, Founder and Chairman of Raisbeck Engineering.

Under the agreement, Raisbeck Engineering will continue to operate under its distinct brand and build upon its long-standing track record of delivering its current suite of engineered products while seeking to leverage distribution channels for other products that complement and meet Raisbeck's performance standards. Through this partnership the company also intends to broaden future performance systems by expanding into additional aircraft platforms. James Raisbeck will remain with the company, as Chairman, while the company's CFO, Tony Armstrong, will serve as the interim CEO with the existing executive team staying in place.