Secondary Buyout • Manufacturing

Avem Partners Acquires FMI Aerostructures

On April 15, 2025, private equity firm Avem Partners acquired manufacturer FMI Aerostructures from Endeavour Capital

Acquisition Context
  • This is Avem Partners’ 1st transaction in the Manufacturing sector.
  • This is Avem Partners’ 3rd transaction in the United States.
  • This is Avem Partners’ 3rd transaction in California.

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M&A Deal Summary

Date April 15, 2025
Target FMI Aerostructures
Sector Manufacturing
Buyer(s) Avem Partners
Sellers(s) Endeavour Capital
Deal Type Secondary Buyout

Target Company

FMI Aerostructures

Valencia, California, United States
FMI Aerostructures is a manufacturer of critical structural components and assemblies for the aerospace and defense industry. With 230,000 square feet under roof and over 130 active spindles, FMI Aerostructures is one of the largest independent A&D manufacturing businesses in North America. FMI Aerostructures was founded in 1978 and is based in Valencia, California.
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Buyer Overview 1

DESCRIPTION

Avem Partners is a private equity firm focused on investing in opportunities throughout the aerospace industry. The Firm looks to commit $10 to $50 million of capital to support mid-sized, founder-owned companies with $15 to $200 million of revenue and at least $3 million of EBITDA. Avem Partners was established in 2017 and is headquartered in Manhattan Beach, California.


Deal Context for Buyer #
Overall 3 of 3
Sector: Manufacturing 1 of 1
Type: Secondary Buyout 1 of 1
State: California 3 of 3
Country: United States 3 of 3
Year: 2025 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-05 Astech

Santa Ana, California, United States

Astech is a provider of welded honeycomb metallic aerostructures to the global aerospace and defense industry. The company designs and manufactures an innovative product line of welded honeycomb metallic aerostructures for commercial and military aircraft, missiles, and space vehicles. Astech has a strong track record of helping customers achieve their goals of creating value and competitive advantage. Astech was founded in 1947 and is based in Santa Ana, California.

Buy -

Seller Profile 1

SELLER

Endeavour Capital

Portland, Oregon, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 925M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Endeavour Capital LLC is a private equity firm that targets service and manufacturing companies headquartered in the Western United States. Endeavour looks to invest with and an enterprise value of $25 -$250 million with an EBITDA of $5-$50 million. Prospective companies are generally profitable with at least $5 million of EBITDA. Supported investment situations include growth capital financings, industry consolidations, management acquisitions, recapitalizations, and ownership transfers. The firm invests in the range of $25-$150 million per transaction. Areas Endeavour will not invest include real estate and emerging technology. Endeavour Capital was formed in 1991 and is based in Portland, Oregon with additional offices in Seattle, Washington, and Los Angeles, California.


Deal Context for Seller #
Overall 34 of 36
Sector: Manufacturing 3 of 5
Type: Secondary Buyout 12 of 13
State: California 9 of 9
Country: United States 33 of 35
Year: 2025 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-27 Berkeley Research Group

Emeryville, California, United States

Berkeley Research Group is a global strategic advisory and expert consulting firm that provides independent advice, data analytics, authoritative studies, expert testimony, investigations, and strategic advisory services to corporations, financial institutions, government agencies, law firms, and regulatory bodies around the world. Berkeley Research Group was founded in 2010 and is based in Emeryville, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-17 Entek

Lebanon, Oregon, United States

Entek produces battery separators for batteries to support electric, advanced start-stop, and standard vehicles, as well as trucks, emergency vehicles, emergency backup power, utility-scale energy storage, and industrial batteries. It is also a vertically integrated designer and manufacturer of extruders and material handling equipment for the production of battery separators and many other non-Entek applications. Entek was founded in 1984 and is based in Lebanon, Oregon.

Sell $800M