US private equity firm AE Industrial Partners (AEI) has acquired GS Precision, an American firm that machines and assembles small parts for the aerospace and defence industry.
Norm Schneeberger, who will continue as GS Precision’s CEO, said in a 3 March news release that AEI’s expertise and financial resources will help his company grow “to the next level”.
Schneeberger, son of the company’s founder, George Schneeberger, will remain a “significant” shareholder, AEI said. Terms of the acquisition were not disclosed.
GS Precision’s wares are used in aircraft engines, guidance systems, and other devices. The company makes “a diverse set of components, used in both new production and the aftermarket, in materials ranging from high-temperature nickel alloys and titanium to stainless steel and aluminum”, AEI said.
Want to read more? For analysis on this article and access to Jane’s unrivalled data and insight, learn more about our subscription options at janes.com/products