Ventus Industrial Partners Announces the Formation of Aeron Defense, a New Force in the Defense Sector, and the Acquisitions of General Tool Company and Magna Machine, in Partnership with GenNx360 Capital Partners and Admiralty Partners

WASHINGTON--(BUSINESS WIRE)--Ventus Industrial Partners, a US-based private equity firm specializing in sectors critical to national security, announces the formation of Aeron Defense (“Aeron”), and the acquisitions of General Tool Company ("GTC") and Magna Machine Company (“Magna”), in partnership with GenNx360 Capital Partners and Admiralty Partners.

Founded by leading figures from the defense and private equity industries, Aeron seeks to build a group of leading manufacturing partners to the US defense industry through significant investments in people, facilities and equipment; ownership incentives for all employees; access to industry-leading operating and advisory teams; and a focus on driving growth organically and through acquisitions.

Founded in 1947 in Reading, Ohio, GTC is a manufacturer of mission-critical defense components with a highly differentiated set of capabilities across a diverse product portfolio. GTC is a key manufacturing partner to a broad range of leading US defense primes, serving key platforms including Columbia-class and Virginia-class submarines, Ford-class aircraft carriers, Arleigh Burke-class destroyers, the F-35 fighter jet, LTAMDS and Patriot missile defense systems, and the LRSO nuclear deterrent.

As part of the transaction, Aeron will also acquire Magna, located in Forest Park, Ohio. GTC and Magna were founded together by the Kramer family and are reuniting under the GTC name. Magna has deep expertise in large-part machining and turnkey large functional assemblies and will become GTC’s fourth manufacturing site. The combined business will have 550,000 square feet of manufacturing facilities within a 10-mile radius in northern Cincinnati. The Kramer family have become minority shareholders in Aeron.

Ventus Industrial Partners is a US-based, operationally focused private equity firm, specializing in sectors critical to national security. It was founded by Valerio Massimo di Roccasecca, formerly of Cinven and founder of Avantus Aerospace; Vice Admiral William Hilarides ret. (USN), former Commander of NAVSEA; and Irwin F. Edenzon, former President of Ingalls Shipbuilding.

Valerio Massimo di Roccasecca, Managing Partner of Ventus Industrial Partners, commented:

“Aeron’s mission is to support the effort to scale the broader defense industrial base across key military programs, and to become the employer of choice within the sector through our ‘Ownership for All’ workforce incentive model and employee-centric philosophy. GTC and Magna are exceptional businesses with which to launch Aeron, and we are delighted that the Kramer family have entrusted us with their family legacy"

Admiral William Hilarides, Chairman of Aeron Defense, commented:

“Over the past 10 years, Irwin and I have been engaged in several initiatives that focused on industrial base challenges. Having decided to take a more active role, we are excited to start this journey with the dedicated and skilled workforce at GTC and Magna”

Bill Kramer, President of GTC, commented:

“For more than 75 years, General Tool Company has earned its reputation through precision, reliability, and trust. We are excited about the future, and having the right partner in Aeron Defense will allow us to strengthen that foundation, invest in our people and facilities, and deliver an even higher level of performance and capacity for our customers and the Warfighter”

Winston & Strawn LLP served as legal counsel to Aeron, and Taft LLP served as legal counsel to GTC and Magna. Harris Williams served as financial advisor and placement agent to Ventus Industrial Partners.

About Aeron Defense

Aeron’s mission is to build a group of leading manufacturing partners to US defense primes through significant investments in people, facilities and equipment; access to industry-leading operating and advisory teams; and a focus on driving growth organically and through acquisitions. At Aeron’s core is an innovative approach to hiring, retaining and developing its people, including an incentive model that grants every current and future employee an opportunity to share in Aeron’s success.

For more information: www.aerondefense.com

About Ventus Industrial Partners

Ventus Industrial Partners is a US-based, operationally focused private equity firm, specializing in sectors critical to national security. It was founded by Valerio Massimo di Roccasecca, formerly of McKinsey, Cinven, Board Member of GE Avio, and founder and Board Member of Avantus Aerospace; Vice Admiral William Hilarides ret. (USN), former Commander of NAVSEA and Chairman of the Australian Government’s Naval Shipbuilding Expert Advisory Panel; and Irwin F. Edenzon, former President of Ingalls Shipbuilding.

For more information: www.ventusindustrial.com

About GenNx360 Capital Partners

GenNx360 Capital Partners is a private equity firm focused on acquiring middle market industrial manufacturing and business-to-business services companies. GenNx360 partners with companies having proven and sustainable business models in expanding industries with the objective of implementing and supporting value-enhancing organic and inorganic initiatives to accelerate growth, deliver cost efficiencies, and generate strong financial returns. GenNx360 has been named as a Top 50 Private Equity Firm in the Middle Market and a Top 50 Private Equity Firm for Executives, and has also been recognized as a Founder-Friendly Investor. GenNx360 was founded in 2006 and is headquartered in New York City.

For more information: www.gennx360.com

About Admiralty Partners

Admiralty Partners is the family office of Jon B. Kutler, founder of aerospace and defense investment bank Quarterdeck Investment Partners, now part of Jefferies Group. Over four decades, Jon has been a prominent investor, advisor and thought leader in the global aerospace and defense industry.

For more information: www.admiraltypartners.com

About General Tool Company

GTC is a leading manufacturer of mission-critical components for the highest priority programs within the US Navy, Air Force, Army and Space Force.

For more information: www.gentool.com

About Magna Machine Company

Magna is a leading manufacturer offering deep expertise in the machining of larger sized parts and turn-key large functional assemblies.

For more information: www.magna-machine.com