Nashville, Tenn., November 4, 2014 – Gen Cap America, Inc., a leader in the middle market buyout niche in the Southeast, announced today the company has acquired ASE Holdings and its wholly-owned subsidiary Aero Systems Engineering with capital from Gen Cap’s Southvest Fund VI.
Founded in 1967 and based in St. Paul, Minn., Aero Systems Engineering is a leading provider of mission-critical testing and engineering services to manufacturers of jet engines and industrial gas turbines, maintenance, repair and overhaul providers, as well as governments and militaries.
“We are excited at the opportunity to work with Aero Systems. The management team is top-notch, as evidenced by the company’s continued growth and historical success,” said Gen Cap America Senior Vice President Matthew Lane. “This company has a promising future within its industry and is poised for long term success with our new investment.”
While terms of the transaction are not publicly available, Lane noted that ASE Holdings was purchased from Tonka Bay Equity Partners LLC, a Minnesota private-equity firm which had partnered with Aero Systems since 2006. “All parties to this agreement walk away positioned very well for the future,” Lane said.
“By partnering with Gen Cap America, we’ve assured the future of Aero Systems rests in good hands,” said Aero Systems CEO Tom Moll. “Gen Cap has an unprecedented record of success, and we’re eager for our name to become a part of their legacy. We look forward to leveraging this momentum into major opportunities for us within the aerospace and energy end markets to take us to a new level.”
For more information on Aero Systems, visit www.aseholdings.com.
Earlier this month, Gen Cap announced it had sold Belt Power LLC after a successful seven-year relationship. The move continued an impressive 25-year run, in which each of Gen Cap’s investments has made a profit for investors.
Gen Cap America, Inc. is a Nashville-based private equity firm that provides equity for management buyouts, division spinoffs, and recapitalizations of profitable, well-established middle-market businesses. For more information, visit www.gencapamerica.com.