G.S. Precision, a Portfolio Company of AE Industrial Partners, Acquires SMC Aerospace
Mar 23 2022
Brattleboro, VT, March 22, 2022: G.S. Precision, Inc. (“GSP”), a leading manufacturer of complex, high-precision components and specialty hardware used primarily in aerospace engines and defense systems, announced today that it has acquired SMC Aerospace (“SMC” or “the Company”), a manufacturer of highly engineered small, machined components for the aerospace industry. Terms of the transaction were not disclosed.
SMC represents GSP’s first add-on acquisition since being acquired by AE Industrial Partners (“AEI”), a US-based private equity firm specializing in aerospace, defense & government services, space, power generation, and specialty industrial markets, in March 2022. SMC’s CEO, Mark McCarthy will remain with the company and help integrate the business into GSP.
For more than 50 years, SMC has served as a one-stop shop for the manufacturing of highly engineered small, machined components for the aerospace industry. A vertically integrated manufacturer of tubes including hydraulic, fuel, and bleed air, the Company utilizes state-of-the-art machinery to develop the highest quality product at the lowest cost. SMC operates out of two New Hampshire-based facilities, including its Seabrook headquarters and Laconia.
“SMC Aerospace is a perfect fit with G.S. Precision, both in terms of corporate culture and its complex manufacturing capabilities,” said Matt O’Connell, CEO of GSP. “SMC’s products are very complementary to ours, extending our reach in the aerospace industry at a time when demand has never been greater. We welcome Mark McCarthy and the SMC team.”
GSP specializes in high-precision machining of alloys up to 16” in diameter and 24” cubed, serving customers in both the commercial aerospace and defense end-markets. GSP has grown to become a leading aerospace and defense manufacturer, serving as a trusted partner and critical supplier to various blue-chip customers.
“AEI’s goal has been to support GSP’s growth both organically and through strategic acquisitions, and the addition of SMC is the exciting next phase in the Company’s development,” said Bryan McElwee, Principal at AEI. “Both companies have stellar reputations and strong relationships within the aerospace industry, and together are well positioned to build on the opportunities in the market. We look forward to continuing to assist GSP in its evolution.”
“As a family-owned company for more than 50 years, we were committed to finding a partner who understood our business and culture, which we found with GSP and AEI,” said Mark McCarthy at SMC. “We are eager to work together to further build our business.”
Akerman served as legal advisor and BRG served as financial advisor to GSP. Glovsky served as legal advisor and Johnson O’Connor served as financial advisor to SMC.
About G.S. Precision
Based in Brattleboro, VT, G.S. Precision is a leading manufacturer of complex, high precision components and specialty hardware used in a variety of mission critical aerospace and defense applications. For more than 60 years, the Company has utilized state of the art, proprietary manufacturing processes and technologies to deliver a diverse set of components, used in both new production and the aftermarket. For more information, please visit https://www.gsprecision.com/
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.