LOS ANGELES--(BUSINESS WIRE)--Avem Partners (“Avem”), a leading private equity firm specializing in lower middle market aerospace and industrial investments, is pleased to announce the successful acquisition of Astech Engineered Products, Inc. (“Astech” or the “Company”), a pioneer in the design and manufacture of innovative aerostructure solutions. True West Capital Partners provided capital in support of this acquisition, alongside significant investment from Avem principals, several aerospace industry executives and other high net worth individuals. This acquisition marks a significant milestone for Avem as the firm expands its presence as an aerospace and defense investor, as well as for Astech as it refocuses on serving longstanding customers and collaborating to develop new business inroads.
Astech, known as the premier supplier of welded honeycomb metallic aerostructures to the global aerospace and defense industry, aligns perfectly with Avem’s strategic focus on the aerospace and defense industry. The opportunity to acquire Astech provided a unique opportunity for Avem to leverage its industry knowledge and financial resources to augment Astech’s proven capabilities and position it for long-term success.
Under Avem's ownership, Astech will benefit from Avem's extensive industry network, operational expertise, and financial support. Avem’s commitment to fostering innovation and driving operational excellence will enhance Astech’s capabilities, customer relationships, and market presence.
The acquisition of Astech strengthens Avem’s position as a leading player in the lower middle market of the aerospace and defense sector. Avem's dedicated team, extensive industry experience, and long-term investment approach make it an ideal partner for Astech in its journey to deliver exceptional solutions to its long-standing valued customers.
About Avem Partners
Avem Partners is a private equity firm founded in 2017 to make investments in lower middle market aerospace and industrial companies. With a focus on fostering growth, driving operational excellence, and creating long-term value, Avem Partners leverages its industry expertise and financial resources to support companies in the aerospace and defense sector.
True West Capital Partners
True West Capital Partners is a West Coast-based investment firm that provides flexible and creative growth capital to middle-market companies in the Western U.S. True West Capital Partners typically makes investments in businesses with proven management teams, strong barriers to entry, sustainable competitive advantages, and high free cash flows. www.truewestcp.com.
About Astech Engineered Products, Inc.
Founded in 1947, Astech is the premier supplier of welded honeycomb metallic aerostructures to the global aerospace and defense industry. The company designs and manufactures an innovative product line of welded honeycomb metallic aerostructures for commercial and military aircraft, missiles, and space vehicles. Astech has a strong track record of helping customers achieve their goals of creating value and competitive advantage.