Behrman Capital, a New York-based private equity firm, announced on April 23, 2026, that it has acquired the assets of Metallizing Service Company Holdings, commonly known as MSC. The transaction, which targets a specialized provider of engineered thermal spray coatings for the aerospace industry, was supported by senior secured credit facilities. Barings, a global alternative investment manager, served as the lead agent for the financing. While the specific financial terms of the acquisition were not disclosed, the move marks a significant expansion of Behrman Capital’s portfolio within the aerospace and defense sectors.
Headquartered in West Hartford, Connecticut, Metallizing Service Company has operated for more than 80 years, having been founded in 1940. The company specializes in providing customized protective coating solutions primarily for commercial and military aerospace engine applications. Its technical capabilities include advanced processes such as plasma spray and high-velocity oxygen fuel, or HVOF. These specialized treatments are critical for engine components, providing essential thermal protection, wear resistance, and sealing properties required to meet stringent performance standards across commercial aerospace, military, and industrial gas turbine platforms.
The acquisition was facilitated by Barings’ Global Private Finance Group. Steve Jarvis, Managing Director at Barings, confirmed that the firm acted as the lead agent for the senior secured credit facilities. Jarvis noted that MSC is a differentiated player in the protective engine coatings space, emphasizing the company’s ability to drive value through mission-critical solutions. Barings, a subsidiary of MassMutual with approximately $481 billion in assets under management, indicated its intent to continue providing financing solutions for Behrman Capital’s future acquisition activities.
Grant G. Behrman, Managing Partner of Behrman Capital, highlighted MSC’s deep process know-how and its established reputation for quality within the aerospace and defense supply chain. According to Behrman, the company’s qualification-driven positions and long-standing customer relationships provide a durable foundation for future growth. The private equity firm plans to partner with MSC’s existing management team, including Vice President of Business Development Doug Chappel, to support the company’s next phase of evolution. This strategy includes investments in existing capacity and potential expansion into adjacent surface technologies and finishing services through both organic growth and strategic mergers and acquisitions.
This transaction represents Behrman Capital’s third major investment in the aerospace sector and its 30th transaction in the United States. Since its inception in 1991, Behrman Capital has raised approximately $4.3 billion in capital and is currently investing from its seventh fund. The firm focuses on management buyouts, leveraged buildups, and recapitalizations of established growth companies in healthcare, defense, and specialty manufacturing. MSC maintains several industry-standard certifications, including NADCAP and AS9100 accreditations, and operates in-house metallurgical capabilities to support its service model across global aviation platforms.