American Industrial Partners Announces Sale of Composites Horizons, LLC To Precision Castparts Corp.

By July 13, 2015News

NEW YORK – July 13, 2015 – American Industrial Partners (“AIP”), a middle-market private equity firm focused on acquiring and improving North American-headquartered industrial businesses, announces sale of Composites Horizons, LLC (CHI) to Precision Castparts Corp. (NYSE:PCP).

CHI is the leading independent supplier of high temperature carbon and ceramic composite components, including ceramic matrix composites (CMC), for use in next-generation aerospace engines.  Using proprietary and patented technologies, CHI manufactures specialized, performance-critical components with exceptional strength and high-temperature tolerance, thus allowing aircraft engines to operate with higher fuel efficiency and lower emissions.  The company has positions across the key next-generation commercial platforms, including A320neo, 737 MAX, 777X, 787, and A350 XWB. CHI operates from one site in Covina, California, and employs approximately 200 people.

Financial terms were not disclosed.  Moelis & Company served as the financial advisor and Kirkland & Ellis served as legal counsel to AIP.

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 50 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 $1 billion.

Inquiries

For more information about American Industrial Partners, contact:
Ben DeRosa, Partner
212-627-2360, extension 200