George Industries Combines with Alexander Machine & Tool Company

NEW YORK, Jan. 4, 2023 /PRNewswire/ -- George Holding, Inc. ("George Industries" or the "Company"), a leading designer and manufacturer of mission-critical and highly engineered components for the defense, aerospace and industrial sectors and a portfolio company of Behrman Capital, today announced a strategic combination with Alexander Machine & Tool Company, Inc. ("AM&T"), a leading provider of complex engineered solutions for mission-critical defense applications. Financial terms of the transaction were not disclosed.

Headquartered in Woburn, Massachusetts, AM&T specializes in manufacturing highly engineered solutions that are critical to the performance and functionality of advanced electronic systems (avionics, communication, land defense and space systems) that serve the defense, aerospace and space markets, among others. The company differentiates itself as a thermal management solutions provider with expertise across a variety of high-reliability manufacturing capabilities including high-precision machining, vacuum bonding, dip brazing and mechanical assembly. AM&T has longstanding relationships across its blue-chip customer base, serving as a strategic manufacturing partner on both new build and modernization efforts on programs of the highest priority for national security.

Jan Mathiesen, George Industries' Chief Executive Officer, said: "Combining with AM&T significantly broadens the combined company's thermal management solutions offering. Bringing together George Industries' decades of manufacturing know-how in brazing capabilities with AM&T's engineering, design and high-precision manufacturing will allow for significant cross-selling opportunities, as we look to build upon our strategic position and long-term growth prospects. We expect a very smooth integration that will enable us to stay focused on serving all of our stakeholders."

Tammy Soper, President and Chief Executive Officer of AM&T, said: "We are proud of the reputation for quality that AM&T has built and provides for our customers through our advanced and diverse range of products and solutions which have been assembled over our 50+ year history. Joining forces with George Industries and Behrman Capital presents a compelling opportunity to realize our numerous growth prospects and continue our unwavering commitment to quality for our customer base." Ms. Soper will continue in her management role leading AM&T post-transaction.

Grant Behrman, Managing Partner of Behrman Capital, said: "George Industries and AM&T are strategically complementary businesses that together create a differentiated solutions provider in the highly engineered thermal management solutions market. The combination provides enhanced product engineering, design and manufacturing capabilities and added scale across the shared platform's core defense and aerospace end markets, which have been the key priorities of the platform since the outset of our investment in George Industries. We look forward to the opportunities ahead and the combined company's exciting next chapter of growth."

Behrman is investing additional equity in partnership with members of George Industries and AM&T senior management team as part of the transaction.

Houlihan Lokey acted as exclusive financial advisor to AM&T in connection with the transaction. Latham & Watkins LLP acted as legal counsel for George Industries.

George Industries is a recognized leader in the design, development, and manufacturing of mission critical engineered components for the defense, aerospace, transportation and industrial sectors. George Industries has strong capabilities and expertise in manufacturing thermal management products which are critical to the functionality of electronic systems. George Industries was founded in 1954 and is headquartered in Endicott, NY. For more information, please visit www.georgeindustries.com.

AM&T is a leading provider of machining, fabrication and assembly solutions for thermal management applications in high-reliability end markets. Since its founding in 1969, AM&T has provided high-quality machined products and solutions by integrating advanced technologies, engineering and machining expertise. AM&T is dedicated to total customer satisfaction and strives to manufacture products in the most efficient and cost-effective ways. For more information, please visit www.alexandermachine.com.

Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company's investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. The firm has raised $4.0 billion since inception and is currently investing out of its sixth fund. For more information, please visit www.behrmancap.com.

Contact

Ross Lovern / Nathaniel Shahan
Kekst CNC
[email protected] / [email protected]

SOURCE Behrman Capital