Maker of Aerospace Gears Joins H-D
Resource from: PRWeb Likes:131
Jul 07,2014
Sungear, Inc. of San Diego has joined H-D Advanced Manufacturing Company (H-D), a holding company for precision engineered products. Sungear manufactures high quality, complex, precision gears used by the aerospace industry. H-D was formed in 2012 by a partnership between The Riverside Company, Hicks Equity Partners and Weinberg Capital Group to invest in manufacturers of heavy-duty, precision engineered parts.
Sungear was founded in 1982, and its products appear in critical components such as actuators, pumps, auxiliary power units, engine starters and other applications. Thanks to its proven capabilities and quality, Sungear has built a diverse and loyal customer base that includes some of the best-known suppliers in the aerospace industry.
Sungear is H-D’s fourth acquisition, joining Overton Chicago Gear Corporation, a manufacturer of gears and gearboxes; Innovative Mechanical Solutions, a manufacturer of bearings, and Leading Edge Heat Treating Services, a provider heat treating solutions.
“The addition of Sungear’s expertise and reputation for quality with some of the world’s largest aerospace customers advances H-D’s goal of becoming the leading global manufacturer of mission-critical products across a wide range of industries,” said H-D CEO Chris DiSantis.
Sungear President Roger Gizicki will continue to lead Sungear within H-D’s gear products division.
“After over 30 years of growth and relationship development as a family-owned business, I am thrilled to lead Sungear in its next chapter as a part of H-D,” said Gizicki. “We are excited to partner with H-D and its tremendous financial, operational and business development resources that can help us take Sungear to new heights for our customers.”
The addition of Sungear will bring benefits to both H-D and Sungear, said Riverside Partner Tim Gosline.
“Sungear brings an outstanding customer base, exceptional technical capabilities and strong potential to grow,” said Gosline. “This addition of a great company diversifies H-D into the growing aerospace market and adds new talent and capabilities to H-D.”
H-D Advanced Manufacturing continues to seek add-on opportunities in gearing, bearings, and other heavy duty, precision-engineered component sectors.
Working with Gosline on the transaction for Riverside were Vice President Rob Langley, Senior Associate Jason Fulton and Senior Associate Conner Harris. Principal, Origination Jeremy Holland and Associate Director, Origination Cheryl Strom sourced the opportunity and Partner Anne Hayes worked on financing the transaction for the firm.
KPMG and Jones Day advised Riverside on the investment.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $250 million (#8364;200 million in Europe). Since its founding in 1988, Riverside has invested in more than 340 transactions. The firm’s international portfolio includes more than 70 companies.
(PRWeb)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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