NEW YORK – November 19, 2012 – American Industrial Partners (“AIP”), a middle-market private equity firm focused on acquiring and improving North American-headquartered industrial businesses, has acquired the United States operating subsidiaries (“AIP Aerospace”) of Hampson Industries plc. The transaction marks the fund’s fifth investment in 2012 and will be made out of American Industrial Partners Capital Fund V, LP, AIP’s $717.5 million fund that closed in December 2011.
AIP Aerospace, with approximately 1,140 employees and 10 manufacturing facilities located in California, Michigan and Texas, has developed unique product offerings and capabilities to serve the global aerospace market. The investment is comprised of five operating divisions with a total of approximately $210 million in sales: three developers of complex metallic and composite aerospace molds, mandrels, assembly jigs and fixtures – Odyssey Industries, LLC; Global Tooling Systems, LLC; and Coast Composites, LLC; and two manufacturers of aerostructure and composite components – Composites Horizons, LLC and Texstars, LLC.
AIP has a long history of successfully buying industrial businesses, such as AIP Aerospace, and partnering with management to drive growth. “We feel fortunate to have found a business with such a unique set of competencies,” said Joel Rotroff of AIP. “We are excited by the outlook for the commercial aerospace industry and look forward to working with management to drive growth and margin improvement.”
“We are extremely pleased to be partnering with the American Industrial Partners team. Our shared commitment to build on the demonstrated accomplishments of our businesses, as well as our focus on delivering expanded capabilities and value to our customers will drive profitable growth,” said Norman Jordan, CEO of AIP Aerospace.
About American Industrial Partners
American Industrial Partners (“AIP”) is an operationally oriented middle-market private equity firm that makes control investments in North American-based industrial businesses serving domestic and global markets. The Firm has deep roots in the industrial economy and has been active in private equity investing since 1989. To date, AIP has completed over 30 transactions and is currently managing more than $1.1 billion in equity capital. AIP invests in all forms of corporate divestitures, management buyouts, recapitalizations, and going-private transactions of established businesses with revenues of $100 million to $500 million. For more information about American Industrial Partners, contact Ben DeRosa, Partner at 212-627-2360, extension 200.