M&A Deal Summary

AE Industrial Partners Acquires Atlas

On October 9, 2018, private equity firm AE Industrial Partners acquired aerospace company Atlas from Graham Partners and Golub Capital

Acquisition Highlights
  • This is AE Industrial Partners’ 5th transaction in the Aerospace sector.
  • This is AE Industrial Partners’ 13th transaction in the United States.
  • This is AE Industrial Partners’ 2nd transaction in Kansas.

M&A Deal Summary
Date 2018-10-09
Target Atlas
Sector Aerospace
Buyer(s) AE Industrial Partners
Sellers(s) Graham Partners
Golub Capital
Deal Type Secondary Buyout
Advisor(s) Lazard Ltd. (Financial)
Dechert
PwC Law (Legal)

Target

Atlas

Wichita, Kansas, United States
Atlas manufactures flight-critical, complex assemblies on a diverse group of commercial, military and business aircraft, including the 737MAX, F-35 Joint Strike Fighter, Gulfstream G650, and nearly every Textron Aviation aircraft. Atlas has developed a unique set of machining, specialty forming and chemical processing capabilities, supported by automation technology and low-cost manufacturing. This vertical integration allows Atlas to deliver a broad range of complex aircraft assemblies, including complete aircraft doors, escape hatches, wing structures, and flight control assemblies for a growing list of leading aerospace OEMs. Atlas was founded in 2007 and is based in Wichita, Kansas.

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Buyer(S) 1

Buyer

AE Industrial Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1998
PE ASSETS 6.2B USD
Size Mega
Type Sector Focused
DESCRIPTION
AE Industrial Partners' headquarters in Boca Raton, Florida.
AE Industrial Partners' headquarters in Boca Raton, Florida.

AE Industrial Partners is a private equity firm focused on acquiring and investing in aerospace and industrial companies. The Firm specifically looks for established, profitable companies in the aircraft propulsion (turbojet, turbofan and turboprop aircraft engines) and power generation (industrial turbines) industries, as well as the manufacture of OEM and replacement parts, and aftermarket maintenance, repair and overhaul. AE Industrial Partners was formed in 1998 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 13 of 35
Sector (Aerospace) 5 of 14
Type (Secondary Buyout) 3 of 6
State (Kansas) 2 of 3
Country (United States) 13 of 35
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-09 F.M.I.

Park City, Kansas, United States

F.M.I., Inc. is a manufacturer of large, complex aerospace structural components and subassemblies. FMI offers a full range of premium forming, machining, engineering, and complex assembly services to global aerospace customers. FMI provides critical components on many of the largest commercial aerospace platforms including the 737, 737 MAX, 777, and 787. F.M.I was founded in 1992 and is based in Park City, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-08 Resolute Industrial

Indianapolis, Indiana, United States

Resolute Industrial is an independent provider of specialty HVAC&R rental services, compressor remanufacturing, and refrigerant storage solutions for mission critical applications across North America. Resolute Industrial was founded in 2015 and is based in Indianapolis, Indiana.

Buy -

Seller(S) 2

SELLER

Graham Partners

Newtown Square, Pennsylvania, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Graham Partners is a private equity that targets middle market industrial and manufacturing companies. The Firm seeks to invest in businesses based in the US and also consider investments in Canada and Western Europe. Graham Partners focuses on strong growth potential companies with high return on invested capital, led by experienced management teams in revenues between $30 - $500 million and EBITDA between $10 million and $50 million. The firm typically invests between $10 million and $100 million in equity and the balance via debt and can invest higher than $100 million through co-investments. Broad areas of interest include building products, water management, medical products, consumer products, packaged food & beverage, packaging, aerospace/defense, agriculture, capital equipment, energy related products, home and outdoor, sports and leisure, and transportation services. Prospective transaction types include MBOs, recapitalization and growth capital financing. Graham Partners is an affiliate of The Graham Group was formed in 1988 and is based in Newton Square, Pennsylvania.

DEAL STATS #
Overall 25 of 37
Sector (Aerospace) 2 of 3
Type (Secondary Buyout) 10 of 15
State (Kansas) 2 of 2
Country (United States) 23 of 34
Year (2018) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-15 ABX

Charlotte, North Carolina, United States

ABX is a flexible packaging manufacturer of high barrier forming web films primarily for the North American protein, cheese, and specialty food end markets. ABX’s multi-layer cast films require a high level of manufacturing complexity and are critical for shelf life extension, spoilage reduction, and food safety. ABX is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-27 Universal Pure

Lincoln, Nebraska, United States

Universal Pure is a provider of outsourced high-pressure processing (HPP), cold storage and pre-HPP and post-HPP value-added services to help food and beverage companies safely bring longer-lasting, cleaner-label products to market. Universal Pure was founded in 2001 and is based in Lincoln, Nebraska.

Sell -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor

Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.

DEAL STATS #
Overall 15 of 41
Sector (Aerospace) 3 of 3
Type (Secondary Buyout) 8 of 19
State (Kansas) 1 of 1
Country (United States) 15 of 39
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-02 MD Now Urgent Care

West Palm Beach, Florida, United States

MD Now Urgent Care offers a patient-friendly and differentiated healthcare alternative by providing high-quality, convenient, timely, and affordable medical treatment for non-life-threatening injuries and illnesses 8 am-8 pm, 365 days per year, annually serving hundreds of thousands of patients with exemplary satisfaction ratings. MD Now Urgent Care was founded in 2005 and is based in West Palm Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Sola Salon Studios

Lakewood, Colorado, United States

Sola Salon Studios provides a unique service to entrepreneurs, giving stylists and beauty professionals high-end, fully-equipped salon studios to start their own businesses without the administrative burden and risk associated with opening a retail storefront. Sola Salon Studios was established in 2004 and is based in Lakewood, Colorado.

Buy -
Mergr

Product

Company

Legal