H-D Advanced Manufacturing Co. -- a partnership of The Riverside Co., Weinberg Capital Group and Hicks Equity Partners -- has sold Firstmark Corp., a North Carolina-based manufacturer of highly engineered components and subsystems for the aerospace and defense industries.
“Firstmark was a calculated addition to the H-D strategy, helping to further build the product line in our aerospace technology vertical offering highly engineered solutions for this industry,” Riverside Managing Partner Suzy Kriscunas said in a statement. “We are pleased that we were able to sell Firstmark to a buyer where it will be an even better strategic fit than it was under H-D.”
Houston-based H-D designs and manufactures “mission-critical,” hard-to-make components used in a wide range of applications, such as hydraulic actuation in airplanes, components for downhole mud motors for oil and gas applications and heavy-duty gears and gearboxes for a variety of industrial, construction and mineral extraction uses.
H-D acquired Firstmark in 2015 as a part of the H-D platform. The company manufactures aftermarket replacement products including mechanical, electromechanical and electronic components and subsystems, OEM aftermarket parts, safety restraints and leading-edge inflatable safety solutions used principally in legacy aerospace and defense platforms.
“We will deploy the resources from the Firstmark sale and continue to build H-D’s capabilities in its core aerospace and defense and industrial motion control end markets,” Riverside Partner Tim Gosline said. “We’ll also continue to support organic growth and look for add-ons to accomplish this.”
Working with Kriscunas and Gosline on the transaction for Riverside were:
- Vice President Conner Harris.
- Associate Charlie Cooper.
- Operating Partner George Benson.
- Riverside Partner Anne Hayes assisted with financing.
- Origination Partner Jim Butterfield sourced the Firstmark deal.
Working with Hicks on the transaction for Hicks Equity Partners were:
- Managing Director Rick Neuman.
- Managing Director Curt Crofford.
- Associate Tedd Carew.
