BOCA RATON, Fla., March 3, 2020 /PRNewswire/ -- AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced today that it has acquired G.S. Precision, Inc. (the "Company"), a leading manufacturer of complex, high precision components and specialty hardware used primarily in aerospace engines and defense systems. Terms of the transaction were not disclosed.
G.S. Precision, based in Brattleboro, VT, is a leading manufacturer of complex, high precision components and specialty hardware used in a variety of mission critical aerospace and defense applications. The Company utilizes state of the art, proprietary manufacturing processes and technologies to deliver components with the high degree of complexity and the extremely tight tolerances required for aerospace engines and defense systems. The Company manufactures a diverse set of components, used in both new production and the aftermarket, in materials ranging from high temperature nickel alloys and titanium to stainless steel and aluminum. G.S. Precision's five strategic locations across the United States and Mexico combined with its unmatched machining capabilities and special processes allow the Company to deliver industry leading quality and performance for its customers.
G.S. Precision was founded in 1958 by George Schneeberger, a machine tool sales engineer from Switzerland who identified an opportunity in the market to create a reliable manufacturer of high precision, complex components and specialty hardware used in aerospace applications. Over 60 years later, G.S. Precision is recognized as a leader in its market by a diverse group of leading aerospace and defense OEMs. Norm Schneeberger, CEO of the Company and son of George, will remain in his current role and continue to be a significant shareholder of the Company.
"Since my father founded G.S. Precision over 60 years ago, the Company has built a reputation as a best-in-class operation with five facilities and more than 700 employees globally," said Norm Schneeberger. "We found a partner in AEI that clearly understands our business and shares our vision for growing G.S. Precision to the next level and continuing the great legacy created by our family."
"We are very excited to partner with Norm and the talented G.S. Precision team," said Charlie Compton, Partner at AEI. "G.S. Precision has developed a leadership position in small diameter aerospace engine components and defense systems hardware with an unmatched reputation for quality and customer service. We look forward to leveraging our industry experience and financial resources to build upon this successful foundation and continue to make G.S. Precision increasingly more important to the customers it serves."
Kirkland & Ellis LLP served as legal advisor and PricewaterhouseCoopers LLP served as financial advisor to AEI. Down Rachlin Martin PLLC served as legal advisor and Gallagher, Flynn & Company served as financial advisor to G.S. Precision.
About G.S. Precision
G.S. Precision, founded in 1958 and based in Brattleboro, VT, is a leading manufacturer of complex, high precision components and specialty hardware used in a variety of mission critical aerospace and defense applications. The Company utilizes state of the art, proprietary manufacturing processes and technologies to deliver components with high degrees of complexity and the extremely tight tolerances required for aerospace engines and defense systems. The Company manufactures a diverse set of components, used in both new production and the aftermarket, in materials ranging from high temperature nickel alloys and titanium to stainless steel and aluminum. G.S. Precision's five strategic locations across the United States and Mexico combined with its unmatched machining capabilities and special processes allow the Company to deliver industry leading quality and performance for its demanding customers and applications. For more information, please visit https://www.gsprecision.com/
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. Learn more at www.aeroequity.com.
CONTACT:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
[email protected]
or
Kristin Celauro
(732) 433-5200
[email protected]
SOURCE AE Industrial Partners
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