AE Industrial Partners Acquires FMI
Search

AE Industrial Partners Acquires FMI

AE Industrial Partners has acquired FMI, a manufacturer of aerospace structural components and subassemblies.

FMI manufactures large and complex components that are used on many of the largest commercial aerospace platforms including the 737, 737 MAX, 777, and 787. FMI’s customers include Boeing, Spirit AeroSystems, Asco Industries, Beechcraft, Caterpillar, General Electric, Phillips Petroleum and others. The company was founded in 1992 and employs 250 people with 222,000 square feet of manufacturing facilities in Park City, KS (www.fmi-incorporated.com).

“There is no other private equity firm with the depth and breadth of AEI’s aerospace experience, and we are excited to partner with their team of professionals,” said Rick Nutt, Founder and CEO of FMI. “We are confident that our management team and our business will take a giant step forward, backed by the industry experience, strategic vision and financial resources of AEI.”

“FMI is unique in the aerospace industry with vertically integrated and highly efficient operations, producing complex structural components on the platforms they serve,” said Jon Nemo, a Partner of AEI. “We believe the company has significant potential to grow with its current customers as well as expand to new customers throughout the growing aerospace industry. We look forward to partnering with Rick and his team in FMI’s next chapter of growth.”

AEI invests in the aerospace, power generation and specialty industrial sectors with a specific focus on technical manufacturing, distribution and supply chain management, MRO (maintenance, repair and overhaul) and industrial service-based businesses.  Typical company targets will have from $50 million to $500 million of revenue. The firm is headquartered in Boca Raton (www.aeroequity.com).

Koch Siedhoff Hand & Dunn, a Wichita-based accounting firm (www.kshd.com), was the financial advisor to FMI on this transaction.

© 2017 Private Equity Professional | November 1, 2017

To search in site, type your keyword and hit enter