Riverside’s private equity

News Release

H-D Advanced Manufacturing Company Soars with Latest Exit December 03, 2018

Firm Sells Stake in North Carolina-based Aerospace Components Manufacturer

H-D Advanced Manufacturing Company (H-D) has sold Firstmark Corp. (Firstmark), a Creedmoor, North Carolina-based manufacturer of highly engineered components and subsystems for the aerospace and defense industries.  H-D is a partnership of The Riverside Company, Hicks Equity Partners and Weinberg Capital Group formed in December 2012.

Headquartered in Houston, Texas, 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.

“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,” said Riverside Managing Partner Suzy Kriscunas. “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.” 

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.   

“The sale of Firstmark represents an outstanding outcome for H-D. As a key partner to a number of the world’s leading aerospace, oil and gas and industrial manufacturing customers, we look forward to providing them with the same high-quality products and outstanding customer service,” said Tom Hicks, Founder and Chairman of Hicks Equity Partners.

 “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,” said Riverside Partner Tim Gosline. “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 and Operating Partner George Benson. Riverside Partner Anne Hayes assisted with financing and 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 and Associate Tedd Carew.

H-D Advanced Manufacturing Company
H-D Advanced Manufacturing Company manufactures severe duty, high-precision products for “mission critical” applications. H-D is led by CEO Michael Vincent and CFO Michael Muse. H-D strives to enable its customers to be leaders in their respective industries by providing world class products, excellent customer service, highly responsive lead times and efficient manufacturing operations. H-D’s eight remaining operating companies are organized into two industry verticals: (i) aerospace and defense and (ii) energy and motion.

Hicks Equity Partners
Hicks Equity Partners is the private equity arm for Hicks Holdings LLC, a holding company for the Thomas O. Hicks family’s assets. With 40 years of private equity experience, Mr. Hicks pioneered the “buy and build” strategy of investing and founded Hicks Muse Tate & Furst, which raised more than $12 billion of private equity across six funds and completed over $50 billion of leveraged acquisitions. Hicks Equity Partners looks for established companies with proven track records, strong free cash flow characteristics, a strong competitive industry position and an experienced management team looking to partner with long-term capital.

Weinberg Capital Group
Weinberg Capital Group is a Cleveland, Ohio-based, family office that specializes in acquiring well-positioned middle-market companies. The group has an established track record of success in the ownership and growth of global manufacturing enterprises.

The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 560 transactions. The firm's international portfolio includes more than 80 companies.

Media Contact

Holly Mueller
Communications Consultant
The Riverside Company
+1 216 535 2236