New York, NY, February 22, 2010 – American Industrial Partners Capital Fund IV, L.P. (“AIP”) today announced that it has acquired Horton Emergency Vehicles, American Emergency Vehicles, and Leader Emergency Vehicles through the purchase of Halcore Group, Inc. (the “Company”).
The Company is a leading provider of emergency and rescue vehicles and has manufacturing facilities in Ohio, North Carolina and California.
“Horton, AEV and Leader are some of the longest standing and most respected brand names in the emergency vehicle market. The Company is known for its high quality products and outstanding customer service,” said John Becker, a partner of American Industrial Partners. “In addition, the Company has an extremely talented group of entrepreneurial managers who we look forward to working with to grow their respective brands and build on their history of success in the marketplace.”
“We are very pleased to join the AIP family of companies,” said Mark Van Arnam, President of AEV. “American Industrial Partners has demonstrated an understanding of our business, an appreciation for what makes it special, and have the capital and engineering expertise to allow us to continue to grow and serve our customers.”
“We strongly believe the partnership with American Industrial Partners will be very positive for our customers, dealers and employees.” said Gary Hunter, President of Leader. “They have a long term perspective on the company and are very supportive of our future plans.”
“American Industrial Partners is an ideal partner for Halcore.” said Dave Lamon, Vice President of Horton. “Their specialty vehicle expertise and unique operations-focused approach will allow the company to prosper over time.”
About American Industrial Partners
American Industrial Partners was founded in 1989 and is a private equity firm that makes control equity investments in mid-sized industrial companies that can benefit from the firm’s systematic approach to implementing strategic and operational improvements. American Industrial Partners is currently investing its fourth fund which closed in August 2008 with $405.5 million of committed capital. For more information, visit www.aipartners.com or American Industrial Partners can be reached at 212-627-2360.