M&A Deal Summary

Angeles Equity Partners and Stellus Capital Management Acquire Primus Aerospace

On June 8, 2021, private equity firms Angeles Equity Partners and Stellus Capital Management acquired aerospace company Primus Aerospace

Acquisition Highlights
  • This is Angeles Equity Partners’ 1st and Stellus Capital Management’s 2nd transaction in the Aerospace sector.
  • This is Angeles Equity Partners’ 7th and Stellus Capital Management’s 25th transaction in the United States.
  • This is Angeles Equity Partners’ 1st and Stellus Capital Management’s 1st transaction in Colorado.

M&A Deal Summary

Date 2021-06-08
Target Primus Aerospace
Sector Aerospace
Buyer(s) Angeles Equity Partners
Stellus Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Houlihan Lokey (Financial)
Brownstein (Legal)

Target

Primus Aerospace

Lakewood, Colorado, United States
Primus Aerospace is a manufacturer of complex precision components for the aerospace, defense, and space (“AD&S”) sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers (“OEMs”) for many of the industry’s most strategic platforms and programs. Primus Aerospace is based in Lakewood, Colorado.

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Buyer(S) 2

Buyer
DESCRIPTION

Angeles Equity Partners LLC is a private equity firm focused on acquiring North American headquartered companies valued up to $350 million. Angeles is a hands-on investor and prefers underperforming companies in need of restructuring, non-core assets of larger businesses, or family/founder owned businesses that could benefit from operational assistance. Target sectors include automotive, building materials, machinery, chemicals, electronics, manufacturing, metals, transportation/logistics, packaging, and distribution. Angeles Capital Partners was formed in 2014 and is based in Los Angeles, California.


DEAL STATS #
Overall 7 of 18
Sector: Aerospace M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 9
State: Colorado M&A 1 of 1
Country: United States M&A 7 of 17
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-25 American Construction Source

Springfield, Missouri, United States

American Construction Source is an LBM distributor with 70+ locations in nine states serving the needs of custom home builders, repair & remodel contractors, and DIY consumers. ACS provides lumber and building materials businesses the resources, leverage, and focus to make their ideas happen. American Construction Source was founded in 2018 and is based in Springfield, Missouri.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Xanitos

Newtown Square, Pennsylvania, United States

Xanitos is a provider of outsourced hospital housekeeping services across the United States. Xanitos’s services include daily and post-discharge cleaning of patient rooms, cleaning and maintenance of flooring in common areas and passageways, and responding to situational cleaning needs. Xanitos was founded in 2008 and is based in Newtown Square, Pennsylvania.

Buy -
Buyer

Stellus Capital Management

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 3.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellus Capital Management is a provider of debt and equity capital to middle-market companies headquartered throughout the US and Canada. For credit commitments, Stellus looks to provide $10 to $50 million of capital to help support buyouts, acquisitions, recapitalization, growth opportunities, rescue financing, distressed situations, as well as bridge loans. Sectors' of interest for Stellus' credit practice includes business services, energy, general industrial, government, healthcare, software and specialty finance. Stellus' equity practice seeks to provide $20 to $100 million to small and mid-sized energy (upstream, oilfield services, midstream) companies. Stellus Capital was originally formed in 2004 as Laminar Direct Capital and operated as the direct investing unit of D.E. Shaw. The Group became independent in 2012. Stellus has offices in Houston, New York City, and Washington DC.


DEAL STATS #
Overall 25 of 86
Sector: Aerospace M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 23
State: Colorado M&A 1 of 3
Country: United States M&A 25 of 83
Year: 2021 M&A 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-07 Ad.net

Los Angeles, California, United States

Ad.net is a performance marketing and search technology company that helps advertisers acquire new customers through intent-driven search and social campaigns. The company’s platform connects advertisers with consumers beyond major search engines, leveraging proprietary data and publisher partnerships to deliver incremental reach and ROI. Ad.net was founded in 2001 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-29 Xanitos

Newtown Square, Pennsylvania, United States

Xanitos is a provider of outsourced hospital housekeeping services across the United States. Xanitos’s services include daily and post-discharge cleaning of patient rooms, cleaning and maintenance of flooring in common areas and passageways, and responding to situational cleaning needs. Xanitos was founded in 2008 and is based in Newtown Square, Pennsylvania.

Buy -