Company sells Capewell business units to focus solely on
survival, safety, and protection solutions designed to save
lives.
MEADOWS
OF DAN, Va., Aug. 22,
2024 /PRNewswire/ -- Argosy Private Equity of
Wayne, PA, a leader in the lower
middle market private equity space for decades, announced today
that it has sold its Capewell business units to the HEICO
Corporation. Argosy Private Equity will retain both Aerial
Machine & Tool Corp, a leader in custom-engineered
survivability solutions, and Rhine Air Inc, a leading provider of
reliable aviation maintenance ventilation and respiratory
protection systems. The sale of Capewell and its aerial
delivery and descent devices divisions, enabled by advisors
Houlihan Lokey and Stevens &
Lee, underscores Argosy's unwavering commitment to providing
best-in-class lifesaving products and solutions to the Armed Forces
and First Responder Communities across the globe.
Aerial's singular focus underscores an
unwavering commitment to providing best-in-class survivability
solutions.
"High risk environments require high performance solutions with
unwavering reliability. That's why we're committed to providing the
most innovative, most reliable, and most effective
custom-engineered survivability solutions on the market", said
Thomas Weidley, Chief Executive
Officer of both Rhine Air Inc and Aerial Machine & Tool Corp,
also known as Aerial. "After a decade of operating as an
integrated company, the time is right to reestablish and revitalize
our Aerial roots. Selling the Capewell business units frees
up operational capacity and allows our organization to focus and
invest squarely on solutions that save lives."
Aerial Machine & Tool Corp manufactures, sells, and services
aviation safety, survival, and protection equipment and tactical
gear for the military, law enforcement, and first responder
communities around the world — designing, prototyping, testing, and
refining products that must perform flawlessly in life-or-death
situations.
Aerial was founded in 1926 as a machine shop dedicated to
producing high-quality metal products. The organization's rigorous
quality standards led it to becoming a prime contractor for the
United States Department of War (now the Department of Defense) by
1940 — less than two decades after its inception. During
World War II, the Company provided critical bolt and bracket
assemblies to the U.S. Army Air Forces (now the U.S. Air
Force). Sewing capabilities were added to the company's
capabilities and in the years that followed, the company began to
specialize in life-safety equipment.
In 1988, Aerial Machine & Tool Corp relocated its operations
to Meadows of Dan, Virginia. Since
then, the company has steadily built its capabilities and
technological expertise in the areas of heavy duty and light
technical sewing and cutting, emergency breathing systems and
associated support and sustainment equipment, precision
machining, radio frequency welding of flotation, and finishing of
high tolerance metal parts for a variety of survivability products
for the Armed Services and First Responder Communities across
the United States.
"Everything we do is designed to increase survivability and
improve mission success for our warfighters and first responders
who, without hesitation, put their lives on the line helping others
or supporting critical operations around the world," Weidley added.
"Backed by continued Argosy investments and a history of innovation
that spans nearly a century, our solutions, products, and services
have made us the go-to experts for survivability solutions."
Known for its Berry Amendment compliant high-precision technical
sewing, Aerial manufactures a full suite of best-in-class emergency
breathing systems, flotations collars and devices, tactical vests
and harnesses, personal restraints and seatbelts, parachute
harnesses, search and rescue equipment, and other mission-critical
products designed to keep military and first responders safe in
high-risk environments. In addition, the company offers
custom-engineered solutions designed to meet the specific needs of
its individual customers.
Aerial also provides real-world safety and survivability
solutions training in its Meadows of
Dan, VA location and works with the United States Armed
Forces to develop doctrine and technical instruction documents.
Its sister company, Rhine Air Inc, manufactures and distributes
high-quality, highly versatile aircraft fuel tank and hazardous
environment ventilation and respiratory protection equipment to
support aviation maintenance organizations around the world.
About Aerial Machine & Tool
Founded in 1926,
Aerial Machine & Tool Corporation is a leading designer,
manufacturer and distributor of survivability products and services
for the defense and commercial communities. Aerial Machine &
Tool Corporation supplies the Department of Defense and First
Responder Communities around the country with the most innovative,
most effective custom-engineered solutions capable of withstanding
today's dangerous operating environments. The company also offers
through-life support, training, and doctrine development as part of
its mission to save lives and increase operational success. Aerial
Machine & Tool Corporation maintains strong relationships with
large government prime contractors and is a vital part of the
global supply chain.
To learn more, visit www.AerialMT.com
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SOURCE Aerial Machine & Tool