Applied Composites, a Portfolio Company of AE Industrial Partners, Acquires North Coast Composites and North Coast Tool & Mold from Unitech

A Manufacturer of Advanced Aerospace Composites, North Coast Further Strengthens the Capabilities of the Applied Composites Platform

LAKE FOREST, Calif., April 6, 2022 /PRNewswire/ -- Applied Composites Holdings, LLC ("Applied Composites"), a leading aerospace, space and defense composites supplier, announced today that it has acquired The Companies of North Coast, LLC ("North Coast" or the "Company"), a manufacturer of Resin Transfer Molded ("RTM") composite structures and tooling, from Unitech Holdings, Inc. ("Unitech"). Terms of the transaction were not disclosed.

This marks the sixth acquisition by the Applied Composites platform created by AE Industrial Partners, LP ("AEI"), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets.

North Coast consists of North Coast Composites and North Coast Tool & Mold, Unitech divisions located in the same facility in Cleveland, OH. North Coast Composites is a manufacturer of advanced composites for aerospace production through state-of-the-art fabrication of RTM and Vacuum-Assisted Resin Transfer Molded ("VARTM") components. North Coast Tool & Mold Corp. is a designer and manufacturer of quality molds and tools for the aerospace industry and a provider of a wide range of innovative manufacturing solutions. With a reputation for stellar customer service, North Coast counts many of the world's leading aerospace and defense OEMs as customers.

"We are excited for North Coast to become a part of Applied Composites," said David Horner, CEO of Applied Composites. "North Coast's best-in-class RTM and tooling capabilities are important to Applied Composites and help to reinforce our leadership position in advanced composite solutions throughout our core aerospace, defense and space markets."

"We have been strategically focused on building a complementary set of capabilities able to deliver a one-stop set of composite solutions to our customers," said Jon Nemo, Senior Partner at AEI. "North Coast and RTM are strategic additions to Applied Composites and our ability to serve our growing list of OEM partners."

Kirkland & Ellis served as legal advisor and RSM served as financial advisor to Applied Composites. Vedder Price P.C. was the legal advisor and Moelis was the financial advisor to Unitech.

Applied Composites is a leading provider of complex composite components, assemblies, engineering, and tooling to the aerospace, defense, and space markets. Applied Composites was formed through AEI's acquisitions of AC&A, Applied Composites Engineering ("ACE"), Applied Composite Structures ("ACS"), formerly known as EnCore Composite Structures, San Diego Composites ("SDC"), Alliance Spacesystems and now North Coast. Operating out of approximately 570,000 square feet across six facilities, Applied Composites is widely recognized as a leading supplier of advanced composite solutions for a diverse set of high growth aerospace, space, and defense applications and platforms. For more information, please visit www.appliedcomposites.com/.

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

Contacts:
Lambert
Jennifer Hurson
845-507-0571
[email protected]
or
Caroline Luz
203-656-2829
[email protected]

SOURCE Applied Composites; AE Industrial Partners