Press Release
Gridiron Capital Announces Recapitalization of AEI
NEW CANAAN, Conn., July 29, 2011 — Gridiron Capital, LLC (“Gridiron”), in partnership with the existing management team, announced the recapitalization of AEI Holdings, LLC, parent company of Apex Engineering International, LLC and its wholly-owned subsidiary Apex Composites, LLC (collectively “AEI”).
Headquartered in Wichita, Kansas, AEI is a leading manufacturer of complex aerospace parts, assemblies, and integrated components for new and existing aircraft. Founded in the 1950’s, AEI has developed a strong reputation and longstanding relationships by delivering high quality, best in class solutions to its blue-chip OEM and Tier-1 customers. Today, AEI is positioned for significant growth as it meets rising worldwide demand for new and aftermarket support on commercial and military aerospace platforms.
Gridiron will support AEI’s management team to continue the company’s history of exceeding customer expectations and delivering profitable growth while continuing to position the company as a world class solutions provider in the aerospace industry.
Mr. Jeff Landreth, CEO and President of AEI stated, “We are excited about the opportunity to work with Gridiron and look forward to incorporating their superior experience in business strategy into our own corporate culture. This recapitalization will allow AEI to pursue larger programs, grow at a quicker pace, and expand our core competency product lines which will provide increased value to our customers and enhance job security for our employees.”
Mr. Timothy Clark, Managing Director of Gridiron stated, “AEI represents an exceptional opportunity to partner with an outstanding management team in an attractive market segment with significant growth prospects. We are impressed by AEI’s high value-added engineering and manufacturing capabilities and strong reputation in the market, and look forward to contributing Gridiron’s aerospace experience and resources to support the company’s growth initiatives.”
About Apex Engineering International, LLC:
Headquartered in Wichita, Kansas, Apex Engineering International, LLC (AEI) is a leading manufacturer of aircraft components for the aerospace industry, including commercial OEM’s, commercial aftermarket, business jet OEM, business jet aftermarket, U.S. Military OEM’s, and U.S. Military Aftermarket. Additional information is available on the firm’s website at www.aeillc.com.
About Gridiron Capital, LLC:
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. The firm’s principals have historically achieved superior investment returns by employing a combination of strategic, operating and financial experience to provide portfolio companies with competitive advantages. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available on the firm’s website at www.gridironcapital.com.