Greenbriar completes new investment in leading independent composite and metal bonded structures business
NEW YORK – December 8, 2022 – Greenbriar Equity Group, L.P. (“Greenbriar”), announced that funds managed by Greenbriar completed an acquisition of Applied Aerospace Structures Corporation (“AASC” or the “Company”), a leading provider of design, fabrication, and testing solutions for complex composite and metal bonded structural assemblies. Financial terms of the private transaction were not disclosed.
Founded in 1954, AASC is the leading provider of complex composite and metal-bonded structures for mission-critical space, aerospace, and defense programs for both commercial and government customers.
“We are thrilled to have selected Greenbriar as our partner for this exciting next chapter”, said Kevin Bidlack, CEO of AASC. “We share a collective vision of accelerating AASC’s growth and enhancing our capabilities. Greenbriar’s extensive experience, knowledge, and resources in our sectors will greatly benefit us during this next phase.”
The new investment by Greenbriar will support the senior management team in executing on AASC’s growth and expansion plans, which include both organic and selective acquisition opportunities to enhance the Company’s solutions to its customers.
“AASC is a truly exceptional business with a long and successful track record supporting industry leading customers in its space and defense programs. We have been impressed by AASC’s customer-centric approach to providing mission-critical, complex components for demanding environments”, said Noah Blitzer, Director at Greenbriar. “We are excited by the Company’s capabilities and growth and are looking forward to partnering with the AASC team to continue their phenomenal trajectory.”
Jefferies Group LLC served as the financial advisor and Kirkland & Ellis LLP served as legal counsel to Greenbriar. Houlihan Lokey, Inc. served as financial advisor and Baker, Donelson, Bearman, Caldwell & Berkowitz P.C. served as legal counsel to the Company.
About Applied Aerospace Structures Corporation
Applied Aerospace Structures Corporation (“AASC”) is a full-service provider of complex composite and metal bonded structures and assemblies for both military and commercial applications, serving mission-critical space, aerospace, and defense programs. Based in Stockton, California, AASC has approximately 330,000 square feet of manufacturing floor space. The company is ISO 9001:2015 and AS9100 Rev D certified and has been in business since 1954. For more information, please visit aascworld.com.
Greenbriar is a middle market private equity firm with more than 20 years of experience investing in market-leading services and manufacturing businesses. With more than $8 billion of cumulative capital commitments, its investment strategy targets businesses led by experienced management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise, strategic insight, and operating capabilities. For more information, please visit greenbriarequity.com.