Applied Composites, a portfolio company of AE Industrial Partners (AEI), has acquired San Diego Composites. This is the third add-on acquisition completed by Applied Composites in the past four months.
San Diego Composites (SDC) is a designer, developer and producer of composite hardware and systems for the aerospace, space, and defense industries. SDC produces hundreds of complex composite structures and assembled systems for aerospace applications including structures on programs ranging from NASA’s Orion spacecraft to missile systems for Raytheon.
SDC was founded in 2002 and has a 70,000 square foot facility in San Diego (www.sdcomposites.com).
Applied Composites is a provider of complex composite components, assemblies, engineering, and tooling to the aerospace, defense, and specialty automobile markets. The company was formed through AEI’s acquisitions of AC&A Enterprises in May 2016, Applied Composites Engineering in November 2017, and Applied Composite Structures in December 2017. Applied Composites is headquartered near Los Angeles in Lake Forest, CA (www.appliedcomposites.com).
When the acquisition of SDC completed, Applied Composites now has a combined 360,000 square feet of production capacity across four facilities in Lake Forest, CA; Brea, CA; Indianapolis, IN; and San Diego, CA.
“The addition of SDC to our composites platform adds significant engineering talent and unique capabilities in the design and production of large composite structures,” said Bill Boisture, Chairman of the Board of Applied Composites and Operating Partner of AEI. “Applied Composites has the scale, capacity, and capabilities to provide our customers an integrated solution from design and engineering through tooling manufacturing, component production, and complex assembly.”
“Joining Applied Composites is an ideal strategic fit and natural next step in the progression and growth of our business,” said Rob Kolozs, co-founder and CEO of SDC. “Having worked with AC&A Enterprises for years as trusted partners, we are excited to formalize that partnership by joining the Applied Composites team. This platform company brings together a powerful portfolio of people and capabilities that will allow us to deliver even greater value to our customers.”
AE Industrial Partners 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).
Berkeley Research Group was the financial advisor to AEI.
© 2018 Private Equity Professional | February 28, 2018
