ShoreView Announces Sale of Aeronix Technologies Group
The Partners of ShoreView are pleased to announce the sale of a controlling interest in Aeronix Technologies Group (“ATG”) to affiliates of Tinicum, L.P. ShoreView and ATG management will retain a significant minority interest in the company going forward.
ShoreView partnered with ATG in June of 2021. At that time, the company was a leading provider of ruggedized ethernet switches, tactical data link technology, software defined radios, and signal processing mezzanine cards. The employee ownership group was seeking a partner to realize liquidity, as well as support further growth in the company. ShoreView structured a transaction that:
- Provided liquidity to the employee ownership group, which included an ESOP, while enabling them to maintain a significant ownership position
- Created an equity incentive plan for key managers
- Provided ample financial resources to support organic growth initiatives and acquisitions
Since partnering in 2021, ShoreView worked with ATG management to:
- Complete four strategic add-on acquisitions, adding scale as well as broadening the company’s product and service offering
- Greenfield a new production facility to execute on significant new business awards
- Recruit key management personnel to support growth and backfill planned retirements
- Invest meaningfully in internally funded R&D to advance leading edge technical capabilities
As a result, ATG’s revenue and earnings grew significantly, and the company has become a critical supplier of defense electronics spanning air, sea, ground, and space applications.
About Aeronix Technologies Group
Headquartered in Melbourne, FL, ATG is a supplier of high-reliability defense electronics supporting the secure, high-speed transmission, storage, and processing of data for aircraft, shipboard, ground and space applications. ATG’s businesses—Aeronix, ITI Engineering, Augustus Aerospace and SIP—provide mission-critical, all-domain C5ISR solutions to support leading defense contractors, the U.S. Department of Defense, allied militaries and the warfighter. ATG’s products are deployed on dozens of next-generation and legacy U.S. and allied mission platforms. A technology-centric organization, more than 70% of ATG’s staff are engineers, supporting customers and end-users from the company’s 12 U.S. locations and at numerous sites in the field globally. For more information, visit www.aeronixtg.com.
About ShoreView
Founded in 2002, ShoreView is a Minneapolis-based private equity firm that has raised over $1.8 billion of committed capital across five funds. ShoreView partners with family and entrepreneur owned companies across many sectors, including niche manufacturing, value-added distribution, business services, residential services, industrial services, and aerospace/defense. Shoreview structures various acquisition, recapitalization, and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million. For more information, visit www.shoreview.com.
If you are interested in speaking with ShoreView about platform or add-on investment opportunities, please contact Garrett Davis at garrett@shoreview.com.
About Tinicum
Tinicum, founded in 1974 as a family investment office, is a private partnership that manages a diversified group of manufacturing, distribution, and industrial technology companies. It seeks to be a trusted partner of business owners and executives who share its belief that long-term prosperity can be created by teams of capable, honest people working together and investing diligently to fulfill the potential of a great business. For more information, visit www.tinicum.com.