ASHEVILLE, N.C., March 24, 2011 /PRNewswire/ -- Stony Point Group, Inc., a private equity and management firm focusing on middle market companies in the aerospace, defense and industrial sectors, announced today the acquisition of Aerospace Distributors, Inc. and its subsidiary Graco Supply Company, Inc. (Graco). Financial terms of the transaction were not disclosed.
Headquartered in Ft. Worth, Texas, Graco is a leader in value-added distribution, chemical management and vendor-managed inventory services for the commercial, military and general aviation markets.
Graco currently operates five locations in the continental United States, which are located in Ft. Worth, Texas; Tulsa, Okla.; Wichita, Kan.; High Point, N.C.; and Ball Ground, Ga. The company employs a workforce of approximately 65 people.
"The acquisition of Graco brings diversity to Stony Point's portfolio of aviation-focused businesses," said David Nolletti, vice president of business development at Stony Point. "In addition to expanding our customer base and footprint, it allows us to leverage our knowledge of the aerospace market in a new, high-growth platform. We are also honored to be partnering on this transaction with Cotton Creek Capital Management, LLC of Ft. Worth, Texas and Tim Holland, president and CEO of Graco."
To learn more about Graco, please visit www.gracosupply.com.
About Stony Point Group
The Stony Point Group, Inc. is a private equity and management firm located in Asheville, N.C., that focuses on middle market companies in the aerospace, defense and industrial sectors. In addition to Graco, Stony Point's portfolio includes the TECT family of business, comprised of TECT Power and TECT Aerospace. TECT Power manufactures critical rotating components for aero and industrial gas turbines. TECT Aerospace manufactures structural and mechanical assemblies for commercial, military and general aviation aircraft. You can learn more about Stony Point and the TECT family of businesses at www.StonyPoint.com and www.TECTcorp.com or call David Nolletti at +1 828 210 8127.
SOURCE Stony Point Group, Inc.