AE Industrial acquires Atlas Group to merge with FMI

Private equity firm AE Industrial Partners, LP (“AEI”) has announced the acquisition of Aerostructures Acquisition LLC d/b/a The Atlas Group to combine with its existing portfolio company, F.M.I., Inc. (“FMI”), the company said.

Terms of the transaction, which closed on October 9, were not disclosed.

Atlas and FMI are both based in Wichita, Kansas with other strategic locations in Phoenix, AZ, Bensalem, PA and Chihuahua, Mexico. The combined platform will create a center of excellence in manufacturing a wide range of complex assemblies including aircraft doors, engine nacelle structures, pressure bulkheads and a variety of other product families.

Kirkland & Ellis LLP served as legal advisor and PricewaterhouseCoopers LLP served as financial advisor to AEI. Dechert LLP served as legal advisor and Lazard served as financial advisor to Atlas.

Atlas manufactures flight-critical, complex assemblies on a diverse group of commercial, military and business aircraft, including the 737MAX, F-35 Joint Strike Fighter, Gulfstream G650, and nearly every Textron Aviation aircraft.

FMI is an innovative supplier of complex assemblies for the aerospace industry. FMI specializes in large scale parts and complex assemblies for a wide range of aerospace platforms and provides strong value to its customers by delivering the power of its vertically integrated machining, forming and assembly capabilities.

About AE Industrial Partners specializes in aerospace and defense, power generation and specialty industrial companies. AE Industrial Partners has more than USD 2.7 billion of assets under management specializing in control investments in aerospace and defense, power generation, and specialty industrial businesses.