Angeles Equity Partners, LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, today announced the acquisition of Primus Aerospace (“Primus”), a manufacturer of complex precision components for the aerospace, defense, and space (“AD&S”) sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers (“OEMs”) for many of the industry’s most strategic platforms and programs. The financial terms of the transaction were not disclosed.
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“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 high-complexity, tight-tolerance parts and subassemblies for Boeing, General Dynamics, L3Harris, Lockheed Martin, Northrop Grumman, Raytheon, and other leading OEMs. Primus supports programs of the highest priority for national security to include hypersonics, heavy space launch, and low Earth orbit satellite communications (LEO/SATCOM).
“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. Angeles differentiated themselves as the best partner for Primus to further enhance our position as a leading precision components supplier in AD&S,” said Randy Brodsky, CEO of Primus Aerospace. “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.
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy and, in its view, can help businesses reach their full potential. Learn more online at www.angelesequity.com.
About Primus Aerospace
Founded in 1998, Primus delivers the most complex products, including hypersonics for defense, heavy launch and rockets for space, and avionics for commercial aerospace top airframers. Value-added services include exotic alloys expertise, engineering design support, component manufacturing, assembly and integration, and complete build-to-print program management. Advanced manufacturing capabilities include 3D printing, 5-axis complex machining, electrical discharge machining, heat treatments, helium leak checking, and water jetting for traditional and exotic materials used in hypersonic and space programs. The experienced team at Primus produces precision parts to very tight tolerances for quality, capacity, cost, weight, and complexity. The company is dedicated to innovation and differentiated by service quality, efficiency, and value engineering.
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