Tonka Bay Equity Partners has completed the sale of AeroSystems Engineering, a provider of testing and engineering services, to Gen Cap America.
AeroSystems Engineering is a global provider of testing and engineering services to the aerospace, energy, and military markets. The company is based in St. Paul (www.aseholdings.com).
Tonka Bay acquired AeroSystems Engineering in 2006 and during the course of its ownership the firm worked with the senior management team of the company to develop a key account strategy to increase the company’s customer base and opened new markets in the energy and military sectors.
“Given AeroSystems’ reputation and technical expertise, we saw a very attractive opportunity to take advantage of the growth and changes in the aerospace industry,” said Peter Kooman, a Managing Principal at Tonka Bay and AeroSystems’ Chairman of the Board. “It has been a pleasure working with the AeroSystems team. I have no doubt that the foundation they have built is equipped to handle the anticipated growth for years to come.”
Tonka Bay Equity Partners invests in highly-engineered manufacturing, value-added distribution and business services companies with EBITDA greater than $2 million. The firm is based in the Minneapolis suburb of Minnetonka (www.tonkabayequity.com).
AeroSystems Engineering is led by Tom Moll, the company’s CEO. “I’ve enjoyed our partnership with Tonka Bay, said Mr. Moll. “Not only have they proven to be a patient and supportive capital partner but also a great sounding board which allowed me to more effectively lead the business. Through the partnership with Tonka Bay and the dedication of my team, we are well positioned to capitalize on the global market opportunity within our aerospace and energy end markets. ”
Gen Cap America, the buyer of AeroSystems Engineering, invests in companies with revenue between $5 million and $100 million that are active in the manufacturing, distribution or service sectors. The firm is actively investing Southwest Fund VI, a $165 million fund which began making investments in May 2010. Gen Cap was founded in 1985 and is based in Nashville (www.gencapamerica.com).
2014 PEPD • Private Equity’s Leading News Magazine • 10-29-14
