In Centra Industries, New Heritage Capital


New Heritage Capital, the leading private equity firm focused on family owned businesses, today announced it has completed a CAD$24.9 million equity investment in Centra Industries Inc., a family-owned manufacturer of structural components and assemblies for commercial aircraft. The transaction was structured as a Heritage Private IPO®, allowing the family shareholders to receive substantial personal liquidity, ample capital for future growth and still retain control of the company.

Headquartered in Cambridge, Ontario, Centra is a leading supplier to the Canadian and U.S. aerospace industries. Specializing in high-speed production of geometrically complex, tight tolerance parts, Centra provides structural, wing and landing gear components supporting major commercial and military aircraft programs. The company’s products are sole-sourced by its major customers and can be found on the industry’s leading platforms including Boeing’s 737, 747, 767, 777 and 787, and Bombardier’s RJ 200/700/900, CL604 and Global Express. Centra, founded in 1974, was purchased in 1986 by Bob McIntyre, the father of Centra’s current President. Immediately following the acquisition, Bob shifted the direction and focus of the company from a local tool and die operation, to one centered on complex production machining for the aerospace and commercial markets. In January 1993, David McIntyre, the current President and largest shareholder, joined the company and has led Centra on its very successful history of growth.

“We are very pleased to invest in Centra, a true industry leader known for exceptional quality, delivery and technical performance,” said Mark Jrolf, a General Partner at New Heritage Capital, who will join the Centra Board of Directors. “Centra’s outstanding capabilities have made it a critical supplier to its customers’ leading platforms. With demand for new aircraft strong, Centra is poised for continued significant growth.”

“We welcome this partnership with Heritage, a firm that shares our commitment to building stakeholder value,” said David McIntyre, President, Centra Industries Inc. “Heritage offers a differentiated approach and truly understands the needs of family business owners. The Heritage Private IPO® structure provides my family and me with the unique opportunity to realize meaningful personal liquidity, while continuing to control and grow our business. We look forward to a successful and close working relationship with Heritage.”

Gowlings Lafleur Henderson LLP served as legal counsel to Centra. Choate, Hall & Stewart LLP and Frasier Milner, Casgrain LLP provided legal services to New Heritage Capital. NewPoint Capital Partners provided financial advisory services to Centra. CIT Group, Inc. led the debt financing.

About Centra Industries Inc.

Ontario-based Centra Industries Inc., supplies structural, wing and landing gear components supporting major commercial and military aircraft programs. For more than 30 years, Centra has supplied manufacturing solutions to the world’s best airframe manufacturers. Centra is committed to being a global partner for integrated aerospace structures through the application of cutting-edge high-speed machining technology, the deployment of sophisticated business systems and program management capability, proposing intuitive value-added solutions to its clients’ business needs, and leveraging information technology in all areas of its business. More information can be found at


The above quotes are provided by David McIntyre, President of Centra Industries Inc. Mr. McIntyre is not an investor in any New Heritage Capital fund and was not paid for the quote included above.  However, due to his position at Centra, he may be inclined to have a favorable view of New Heritage Capital.

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