BOCA RATON, Fla.—Private equity firm AE Industrial Partners, LP (AEI) reported that it acquired G.S. Precision, Inc., of Brattleboro, Vermont, and Adcole Maryland Aerospace (AMA), of Marlborough, Massachusetts. AE Industrial partners specializes in markets that include aerospace, defense, and government services, power generation, and specialty industrial.
G.S. Precision, founded in 1958, is a manufacturer of complex, high precision components and specialty hardware used in mission-critical aerospace and defense applications that require a high degree of complexity and extremely tight tolerances. Its components are used in new production and the aftermarket, in materials ranging from high temperature nickel alloys and titanium to stainless steel and aluminum.
Adcole Maryland Aerospace, established in 1957, provides satellite components that are integral to the mission success of hundreds of low-earth orbit (LEO), geosynchronous (GEO) and interplanetary spacecraft. By combining new space technologies with a proven heritage in space flight, AMA’s core capabilities include the design and manufacture of mission-critical, high reliability optical sensors for satellites providing guidance, navigation, situational awareness, and control capabilities.
Key products of AMA include sun sensors, star trackers, and star cameras. The company has been an essential part of many space missions, including voyages to Mercury, Mars, Jupiter, Saturn, and Pluto. Its customers include the Department of Defense, as well as other government agencies and leading private companies in aerospace and defense.
“We have been impressed by AMA’s tenure, reputation, and respected flight heritage in the space industry, and we are excited to partner with a truly premier supplier of mission critical technologies,” said Kirk Konert, a partner at AEI, in a release. “AMA represents the first company of AEI’s space technology platform, which will serve the growing demand from both the U.S. Government and the commercial market for space and satellite vehicles.”
“AMA has remained at the forefront of a constantly evolving industry because we are continually investing in state-of-the-art equipment and processes, while drawing on our deep heritage and industry expertise,” said Don Wesson Jr., general manager of AMA’s Components Division. “We are excited to build upon our successful heritage and team with a dedicated specialist investor like AEI who will partner with us through our next chapter of growth.”
“AMA is uniquely positioned to lead developments in the space industry,” said Peter Cannito, operating partner at AEI. “We look forward to partnering with this talented team and to bringing our passion and resources to better position the company to take advantage of today’s opportunities in the space and satellite industry.”
G.S. Precision, will retain its CEO, Norm Schneeberger, son of founder George Schneeberger. The release said Norm Schneeberger will remain in his current role and continue to be a significant shareholder of the company.
“Since my father founded G.S. Precision over 60 years ago, the company has built a reputation as a best-in-class operation with five facilities and more than 700 employees globally,” said Norm Schneeberger. “We found a partner in AEI that clearly understands our business and shares our vision for growing G.S. Precision to the next level and continuing the great legacy created by our family.”
“We are very excited to partner with Norm and the talented G.S. Precision team,” said Charlie Compton, partner at AEI. “G.S. Precision has developed a leadership position in small diameter aerospace engine components and defense systems hardware with an unmatched reputation for quality and customer service. We look forward to leveraging our industry experience and financial resources to build upon this successful foundation and continue to make G.S. Precision increasingly more important to the customers it serves.”