Press Release
Gridiron Capital Announces Investment in H.M. Dunn Company
NEW CANAAN, Conn., August 2011 — Today Gridiron Capital, LLC (“Gridiron”) announced its investment in H.M. Dunn Company, Inc. (“H.M. Dunn”) through a newly formed holding company, HMD Holdings, Inc. H.M. Dunn founder, James Fultz, will continue to be an owner in partnership with the management team.
H.M. Dunn is a manufacturer of high-precision aerostructures used in military, commercial and civil aviation. The Company produces complex structural components for multiple aerospace platforms. Over its 35+ year operating history H.M. Dunn has a demonstrated track record of reliably exceeding its customers’ stringent quality standards and meeting its delivery schedules on-time and on-budget. As a result of these capabilities, the Company has become a go-to supplier for its customers’ complicated, flight-critical machined aerostructural components and assemblies.
Utilizing a 170,000 sq. ft. state-of-the art manufacturing facility, the Company produces a diverse range of complex structural components, including blade folds, wing fittings, keel beams, door panels and wing ribs for dozens of different platforms across defense, commercial and civil aerospace end markets. Gridiron will support the H.M. Dunn management team to leverage its best in class capabilities and continue to expand its relationship with existing customers as well as developing opportunities with new customers.
Mr. Fultz stated, “I was not in the market for a partner but I was very impressed with Gridiron’s industry knowledge and experience and thought they were the right people to work with to continue our success. This partnership will allow Dunn to expand our relationships with our existing customers and also actively pursue new opportunities which will provide increased value to our customers and enhance job security for our employees.”
Mr. Kevin Jackson, Vice President of Gridiron stated, “Dunn represents a unique opportunity to partner with an outstanding management team in an expanding market characterized by strong build rates and backlog for the key aerospace platforms we serve. With manufacturing capabilities which are unrivaled in the industry, we feel Dunn is a great platform to build from and look forward to contributing Gridiron’s aerospace experience and resources to support the company’s future growth.”
About H.M. Dunn:
Founded in 1975 and headquartered near Dallas, Texas, H.M. Dunn Company is an ISO 9001:2008 and AS9100 Rev. B certified manufacturer of high-precision, complex machined components, assemblies and kits used by original equipment manufacturers (“OEM”s) and Tier 1 suppliers to OEMs in the defense, commercial and civil sectors of the aerospace and defense industry. With its highly-advanced machining equipment and unmatched design and machining expertise, HMD is uniquely positioned to provide value-added complex parts across a wide range of difficult-to-machine metals, including titanium, aluminum and stainless steel.
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.