Bloomberg

AE Industrial Partners acquired AC&A, a manufacturer of parts and tooling for aerospace, defense, space and specialty automotive companies. Terms of the transaction were not disclosed.

AC&A, based in Lake Forest, California, and founded in 2004, makes carbon composite and metallic parts and tooling for industrial and niche markets, including emerging markets such as unmanned aircraft.

Boca Raton, Florida-based AE Industrial Partners invests in aerospace, power generation and specialty industrial companies, focusing on technical manufacturing, distribution and supply chain management; maintenance, repair and overhaul; and industrial services.

Justin Uchida, CEO of AC&A, says AE Industrial’s expertise and long involvement in aerospace and related technologies, along with its financial support, will help his company grow with both new and existing customers.

David Rowe, managing partner of AE Industrial, says each of AC&A’s market segments have strong potential for growth, and the company has established itself as a one-stop-shop for design, development and fabrication.

In the last year, AE Industrial has acquired Belcan LLC, supplier of engineering project management services and technical staffing, and Kellstrom Materials, provider of parts, parts support and supply chain management for passenger airlines and air transport operators.

The AC&A investment was made from AE Industrial’s first fund—the $680 million AE Industrials Partners Fund I LP. AE Industrial had announced in April that it had raised the fund, and $160 million for co-investments, to invest in aerospace and related sectors.That fund also invested in Belcan and Kellstrom Materials. Some see the aerospace segment currently as one of the major movers in middle-market deal activity. A recent example: In April, MTS Systems Corp. (Nasdaq: MTSC) agreed to purchase PCB Group Inc., maker of sensors used in the aerospace and energy industries, for $580 million.

For AE Industrial Partners, Kirkland & Ellis LLP was the legal adviser and PricewaterhouseCoopers LLP was the financial adviser on the AC&A deal. For AC&A, Law Office of Ron R. Goldie was the legal advisor and Janes Capital Partners was the financial adviser.

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