Industrial Growth Partners (IGP), in partnership with management and a group of outside investors, has acquired FMH Aerospace, a manufacturer of aerospace components and assemblies. The acquisition of FMH was made by IGP’s fourth fund and is its eighth platform investment.
FMH is a manufacturer of components and assemblies for the commercial aerospace, defense, space and industrial markets. The company’s products include metal bellows, bellow joints, metal ducting and metal hoses that are used to transfer fluids and gases that are at extreme temperatures and pressures and in demanding environments. For example, the company’s products are used in the hot section of engines or at cryogenic temperatures in rocket engine applications. FMH is headquartered in Irvine, CA (no website found).
IGP intends to use FMH as a platform to pursue add-on acquisitions in the aerospace components and assemblies sector and to grow the revenues of FMH in its existing commercial aerospace, defense, space and industrial markets.
“IGP’s familiarity with the aerospace and defense markets through its current and prior investments and the firm’s successful track record of partnering with entrepreneur-owned businesses make IGP a perfect equity partner for us,” said C. Wayne Fullen, General Manager of FMH.
Industrial Growth Partners provides equity capital to lower-middle market manufacturing and manufacturing services companies with revenues of $30 million to $100 million. The firm invests equity in a range of transactions involving a change of ownership, such as management buyouts, leveraged buyouts, corporate divestitures, recapitalizations and management buy-ins. Industrial Growth Partners was founded in 1997 and is based in San Francisco (www.igpequity.com).
2015 PEPD • Private Equity’s Leading News Magazine • 5-6-15