Pryer Aerospace said that Tulsa Capital Partners and a group of local investors have consummated a recapitalization of the company in conjunction with Pryer management.
Founded in 1965 by W.E. Pryer as an aerospace machining operation, Pryer has supported most military and commercial aircraft programs over the years. Today, Pryer is a leading provider of structural components, assemblies and kits to the aerospace industry, specializing in the fabrication of complex sheet metal, machined components, and composites for commercial, corporate, and military aircraft.
Second- and third-generation Pryer family members, Scott and Brent Pryer, will continue as members of the management team as well as maintaining ownership in the company.
Also joining Pryer as part of the TCP investment is CEO, Jeff Landreth.
In addition to providing capital to support Pryer´s growth plans, TCP will provide Pryer with operating and strategic resources, as well as considerable experience in the aerospace industry. The funds raised to make the Pryer investment were funded entirely by local Tulsa investors.
Salem Partners LLC, a Los Angeles-based investment bank served as the exclusive financial advisor to Pryer Aerospace.