AE Industrial Partners, (AEI), a private investor in aerospace, power generation and specialty industrial companies, has acquired Moeller Aerospace. Terms of the transaction, which closed today, were not disclosed.
Founded in 1953, and based in Wixom, MI, Moeller Aerospace specializes in the precision machining of complex hot- and cold-section turbine hardware across all major aerospace engine programs, with high proficiency in the machining of titanium-aluminide, low-pressure turbine blades and the manufacture of their proprietary Click-Loc and FlexThread products. With more than 500 employees, three manufacturing facilities and more than 60 years of industry experience, Moeller Aerospace is strategically positioned at the forefront of the supply chain to deliver the future growth of the aviation and power generation turbine engine industries.
“AEI has an extensive, successful track record in our key target markets of aerospace, power generation and specialty manufacturing,” said Kevin Atkinson, President of Moeller Aerospace. “There’s no doubt that with the infusion of AEI’s expertise, connections and capital, our company will have significant new business potential to develop and realize.”
“Moeller Aerospace is virtually unique in its products, technology, and reputation,” said Michael Greene, Managing Partner of AEI. “The company is a proven innovator in developing new products and processes that support the development and production of turbine engines for their key OEM customers, and has the potential to expand this expertise across its target markets.”
Kirkland & Ellis served as legal advisor and PricewaterhouseCoopers as financial advisor to AE Industrial Partners. Honigman Miller Schwartz and Cohn served as legal advisor and P&M Corporate Finance served as financial advisor to Moeller Aerospace.
Moeller Aerospace represents the fourth platform acquisition for AE Industrial Partners Fund I. In the last year, AEI’s three other platform acquisitions include: Belcan, a global supplier of engineering project management and technical staffing solutions; Kellstrom Materials, which provides parts support and supply chain management for leading airlines and air transport operators worldwide; and AC&A, which provides high quality composite parts and tooling to the aerospace and defense, space, and specialty automotive markets.