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AE Industrial Partners acquires The Atlas Group

AE Industrial Partners, LP ("AEI"), a private equity investor specializing in aerospace and defense, power generation, and specialty industrial companies, announced that it has acquired Aerostructures Acquisition LLC d/b/a The Atlas Group ("Atlas"), a leading manufacturer of complex assemblies for commercial, military and business aircraft. Terms of the transaction, which closed on October 9, were not disclosed. AEI is combining Atlas with its existing portfolio company, F.M.I., Inc. ("FMI").

Atlas manufactures flight-critical, complex assemblies on a diverse group of commercial, military and business aircraft, including the 737MAX, F-35 Joint Strike Fighter, Gulfstream G650, and nearly every Textron Aviation aircraft. Atlas has developed a unique set of machining, specialty forming and chemical processing capabilities, supported by automation technology and low-cost manufacturing. This vertical integration allows Atlas to deliver a broad range of complex aircraft assemblies, including complete aircraft doors, escape hatches, wing structures, and flight control assemblies for a growing list of leading aerospace OEMs.

Atlas and FMI are both based in Wichita, KS with other strategic locations in Phoenix, AZ, Bensalem, PA and Chihuahua, Mexico. The combined platform will create a center of excellence in manufacturing a wide range of complex assemblies including aircraft doors, engine nacelle structures, pressure bulkheads and a variety of other product families.

"Atlas has a strong reputation for addressing complex manufacturing challenges and delivering world class quality to its customers," said Jon Nemo, Partner of AEI. "The acquisition of Atlas represents a critical milestone in creating a highly strategic, purpose-built platform and we look forward to partnering with their senior leadership team to grow the business."

"We are excited to partner with AEI given their strategic approach to aerospace investing and our similar philosophies on creating value in the aerospace supply chain," said Rick Wolf, CEO of Atlas. "The combination of Atlas and FMI makes great sense and will deliver strong value to our customers and over 1,000 combined employees."

"Atlas and FMI both possess deep manufacturing expertise and engineering talent and have pursued similar strategies with respect to vertical integration," said Rick Nutt, Founder and CEO of FMI. "We are confident that our key customers will benefit greatly from our combined scale, infrastructure and best practices."

Press release issued by FMI, Inc on October 9, 2018

 

 Contact details from our directory:
FMI, Inc Forming, Machining Services

 

 Related directory sectors:
Structural Components
Sheet Metal Processes
Machining

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