H-D Advanced Manufacturing Company (H-D), a portfolio company of The Riverside Company, Hicks Equity Partners and the Weinberg Capital Group, has acquired Sungear, a manufacturer of gears and assemblies for the aerospace industry.
Sungear manufactures complex, high quality, precision gear components for many of the world’s leading aerospace suppliers. The company’s loose gearing and gear assembly products perform critical functions in engine starters, auxiliary power units and other applications. Sungear manufactures products for both OEM and aftermarket applications across a broad range of commercial and defense platforms. Sungear’s current President, Roger Gizicki, will continue to lead Sungear within H-D’s gearing division. The company is headquartered in San Diego (www.sungearinc.com).
“After over 30 years of growth and relationship development as a family-owned business, I am thrilled to lead Sungear in its next chapter as a part of H-D,” said Mr. Gizicki. “We are eager to partner with H-D and its tremendous financial, operational and business development resources that can help us take Sungear to new heights for our customers.”
Sungear is the fourth acquisition completed under the H-D platform, joining Overton Chicago Gear Corporation, a manufacturer of large gears and gearboxes; Innovative Mechanical Solutions, a manufacturer of custom bearings for the directional drilling motor industry; and Leading Edge Heat Treating Services, a provider of heat treating solutions.
“The addition of Sungear’s expertise and reputation for quality with some of the world’s largest aerospace customers advances H-D’s goal of becoming a leading global manufacturer of mission-critical products across a wide range of industries,” said H-D CEO, Chris DiSantis.
Hicks Equity Partners is the private equity arm for Hicks Holdings, a holding company for the Thomas O. Hicks family’s assets. The firm invests in established companies with enterprise values of less than $200 million. Hicks Equity Partners is based in Dallas (no website found).
“We are excited to further expand the capabilities of the H-D platform in the attractive aerospace industry and look forward to supporting Sungear as it continues to grow in the future,” said Tom Hicks, founder of Hicks Equity Partners.
H-D was formed in December 2012 by a partnership among The Riverside Company, Hicks Equity Partners and Weinberg Capital Group to acquire and develop manufacturers of mission-critical, precision engineered components. H-D is led by Chris DiSantis, CEO, and Dale Mikus, CFO. H-D is actively seeking acquisition opportunities in gearing, bearing and other heavy duty, precision-engineered component sectors. The company is based in Pittsburgh.
“H-D is happy to welcome a well-established, industry-leading manufacturer like Sungear to the family of companies,” said The Riverside Company partner, Tim Gosline. “We are eager to help Sungear expand its relationships with both existing and new customers. H-D is committed to helping Sungear better serve its customers through strategic investments in people, training, facilities and equipment.”
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 310 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 75 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
Riverside’s Jeremy Holland and Cheryl Strom sourced the opportunity and H-D was advised by KPMG and Jones Day on the transaction.
Hicks Equity Partners is the private equity arm for Hicks Holdings, a holding company for the Thomas O. Hicks family’s assets. The firm invests in established companies with enterprise values of less than $200 million. Hicks Equity Partners is based in Dallas (no website found).
Weinberg Capital Group is a family office that specializes in acquiring well-positioned middle-market companies. The group has an established track record of success in the ownership and growth of global manufacturing enterprises. The firm is based in Cleveland (www.weinbergcap.com).
2014 PEPD • Private Equity’s Leading News Magazine • 7-2-14