American Industrial Partners Acquires the United States Operating Subsidiaries of Hampson Aerospace
American Industrial Partners a middle-market private equity firm focused on acquiring and improving North American-headquartered industrial businesses, has acquired the United States operating subsidiaries ("AIP Aerospace") of Hampson Industries plc. The transaction marks the fund's fifth investment in 2012 and will be made out of American Industrial Partners Capital Fund V, LP, AIP's $717.5 million fund that closed in December 2011. AIP Aerospace, located in California, Michigan and Texas, has developed unique product offerings and capabilities to serve the global aerospace market. The investment is comprised of five operating divisions with a total of approximately $210 million in sales: three developers of complex metallic and composite aerospace molds, mandrels, assembly jigs and fixtures – Odyssey Industries, LLC; Global Tooling Systems, LLC; and Coast Composites, LLC; and two manufacturers of aerostructure and composite components – Composites Horizons, LLC and Texstars, LLC. AIP has a long history of successfully buying industrial businesses, such as AIP Aerospace, and partnering with management to drive growth. "We feel fortunate to have found a business with such a unique set of competencies," said Joel Rotroff of AIP. "We are extremely pleased to be partnering with the American Industrial Partners team. Our shared commitment to build on the demonstrated accomplishments of our businesses, as well as our focus on delivering expanded capabilities and value to our customers will drive profitable growth," said Norman Jordan, CEO of AIP Aerospace.
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