Angeles Equity Partners LLC, a private equity firm, today announced the acquisition of Primus Aerospace, a manufacturer of complex precision components for the aerospace, defense and space sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers for many of the industry’s most strategic platforms and programs.
“Primus’ quality and engineering capabilities have enabled it to consistently secure new business on premier defense and space programs. We believe the company is exceptionally well-positioned to grow with their customers in support of the National Defense Strategy,” said Mike Kay, operating partner at Angeles. “The investment in Primus aligns tightly with our firm’s strategy and capabilities, and represents a compelling opportunity to partner with an incredibly talented team to consolidate the fragmented AD&S precision components landscape,” said Sameer Patel, Principal at Angeles.
Primus offers focused value-added services, including engineering design support, component manufacturing, assembly and integration, and complete build-to-print program management. The company’s proficiency with exotic and hard metals has enabled it to manufacture parts and subassemblies for Boeing, General Dynamics, L3Harris, Lockheed Martin, Northrop Grumman, Raytheon, and other OEMs.
“After evaluating a large number of potential partners to optimize our business and accelerate our growth, Angeles demonstrated the most thoughtful and collaborative approach to create value for all stakeholders,” said Randy Brodsky, CEO of Primus Aerospace. “Angeles differentiated themselves as the best partner for Primus to further enhance our position as a leading precision components supplier in AD&S. The Angeles team has significant experience partnering with businesses in which they invest to achieve their full potential. We believe a great future lies ahead for Primus and look forward to partnering with Angeles.”
Houlihan Lokey and Brownstein Hyatt Farber Schreck LLP served as the financial and legal advisors, respectively, for Primus. FocalPoint Securities LLC and Simpson Thacher & Bartlett LLP served as the debt placement agent and legal advisor, respectively, for Angeles.