American Industrial Partners

American Industrial Partners (est. 1989[1]) (AIP) is an American private equity fund that invests in industrial companies. American Industrial Partners' portfolio holdings include REV Group, CANAM Group, Armstrong Cabinets, Optimas OE Solutions, Rand Logistics, and Vertex Aerospace.

Investments

In August 2010, AIP announced the merging of four of its holdings (Collins Industries (buses and ambulances), E-One (firetrucks), Halcore Group and Fleetwood Enterprises (RVs)) into a new entity called Allied Specialty Vehicles.[2] The new company was later renamed REV Group and an initial public offering was announced in January 2017.[3] That company trades under the ticker NYSE:REVG.

In November 2012, American Industrial Partners acquired the Armstrong Cabinets business of Armstrong World Industries[4] for $27M.[5]

In February 2015, AIP acquired the fasteners business of Anixter for $380M, renaming the company Optimas OE Solutions.[6]

In April 2017, AIP, the Dutil family (founders of CANAM Group), Caisse de Dépôt et Placement du Québec, and Fonds de Solidarité FTQ announced their intent to take the company private[7] in a deal ultimately valued at $875M (Canadian Dollars).[8]

In March 2018, AIP announced that it had acquired Rand Logistics,[9] a provider of bulk freight shipping services. AIP had previously invested in Rand Logistics during the latter's Chapter 11 bankruptcy proceedings.

In May 2018, American Industrial Partners acquired L-3 Communications Vertex Aerospace LLC and related assets from L-3 Communications for $540M.[10] The company was subsequently renamed Vertex Aerospace.

Key partners

  • Kim A. Marvin[1]
  • Dino M. Cusomano[1]
  • John M. Becker[1]
  • Stephen J. Bordes[1]
  • Stanley Edme[1]

References

  1. 1 2 3 4 5 6 "Bloomberg – Company Overview of American Industrial Partners". www.bloomberg.com. 2018-09-05. Retrieved 2018-09-05.
  2. ↑ "American Industrial Partners Announces the Formation of Allied Specialty Vehicles, Inc., a Leading Manufacturer of Specialty Vehicles in North America". American Industrial Partners. Retrieved 2018-09-05.
  3. ↑ "REV Group, Inc. Announces Pricing of Initial Public Offering". American Industrial Partners. Retrieved 2018-09-05.
  4. ↑ billesler (2012-11-03). "Armstrong Exits Cabinet Business as AIP Deal Closes". Woodworking Network. Retrieved 2018-09-05.
  5. ↑ "Armstrong World Industries Announces Agreement to Sell Its Cabinets Business". www.prnewswire.com. Retrieved 2018-09-05.
  6. ↑ "AIP Closes $380M Purchase of Anixter's Fasteners Business | PitchBook". Retrieved 2018-09-05.
  7. ↑ "Quebec's Dutil family taking Canam Group private". The Globe and Mail. Retrieved 2018-09-05.
  8. ↑ "Canam closes $875M privatization by AIP, Dutil family, CDPQ, Fonds de solidarité - Private Capital Journal". Private Capital Journal. 2017-07-04. Retrieved 2018-09-05.
  9. ↑ Inc., Rand Logistics,. "American Industrial Partners Completes Acquisition of Rand Logistics, Inc". GlobeNewswire News Room. Retrieved 2018-09-05.
  10. ↑ "American Industrial Partners to acquire L3's Vertex Aerospace business - PE Hub". PE Hub. 2018-05-01. Retrieved 2018-09-05.
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