TSL Express Daily News

Angeles Equity Partners, LLC (“Angeles” or the “Buyer”) has announced the acquisition of Primus Aerospace (“Primus” or the “Company”) with financing provided by Stellus Capital Management, LLC (“Stellus”). FocalPoint Partners (“FocalPoint”) served as the debt placement agent to Angeles on the transaction.

Primus is a leading manufacturer of complex precision components for the aerospace, defense, and space (“AD&S”) sectors. Primus serves several of the premier AD&S prime contractors and original equipment manufacturers (“OEMs”) for many of the industry’s most strategic platforms and programs. Primus offers focused value-added services, including engineering design support, component manufacturing, assembly and integration, and complete build-to-print program management. The Company’s proficiency with exotic and hard metals has enabled it to manufacture high-complexity, tight-tolerance parts and subassemblies for Boeing, General Dynamics, L3Harris, Lockheed Martin, Northrop Grumman, Raytheon, and other leading OEMs. Primus supports programs of the highest priority for national security to include hypersonics, heavy space launch, and low Earth orbit satellite communications (LEO/SATCOM).

“Primus’ quality and engineering capabilities have enabled it to consistently secure new business on premier defense and space programs. We believe the company is exceptionally well-positioned to grow with their customers in support of the National Defense Strategy,” said Mike Kay, Operating Partner at Angeles. “The investment in Primus aligns tightly with our firm’s strategy and capabilities and represents a compelling opportunity to partner with an incredibly talented team to consolidate the fragmented AD&S precision components landscape,” said Sameer Patel, Principal at Angeles.

“In less than two months, we were able to structure a facility that provided Angeles with committed financing to meet the acquisition timeline. We appreciate our partnership with Angeles and are pleased to deliver another successful outcome for FocalPoint’s Sponsor Coverage and Capital Markets practices,” added Rajesh Sood, Managing Partner at FocalPoint. Michael Del Pero, FocalPoint Managing Director, commented, “We are thrilled to have worked with Angeles on this important transaction. This is a great example of how FocalPoint is able to leverage our deep A&D sector expertise as well as best-in-class debt placement and buyside advisory services on behalf of private equity clients.”

About Angeles Equity Partners

Angeles Equity Partners, LLC is a private equity firm that invests in companies across a wide range of sectors and specifically targets businesses which it believes can directly benefit from the firm’s strategic, operational, and M&A capabilities. The Angeles skill set drives the firm’s investment philosophy that can help businesses reach their full potential. For more information, visit www.angelesequity.com.

About Stellus Capital Management

Stellus Capital Management, LLC is a leading lower middle market private investment firm with approximately $1.8 billion of assets under management. The Stellus team has invested over $6.5 billion in the lower middle market over the last 17+ years. Stellus has offices in Houston, Texas, Charlotte, North Carolina and Washington D.C. To learn more, visit www.stelluscapital.com.

About FocalPoint Partners

FocalPoint is a leading investment bank specializing in mergers and acquisitions, private placements (debt and equity), financial restructurings, and special situation transactions. With offices in Los Angeles, Chicago, New York, and Shanghai, the firm provides global advisory services to a variety of middle market clients. With our recent growth, FocalPoint offers its clients one of the largest teams in the financial community wholly dedicated to middle-market financing. For more information, visit focalpointllc.com and follow us on LinkedIn and Twitter.

Please contact Rajesh Sood, Managing Partner, at 310-405-7050, Michael Del Pero, Managing Director, at 310-995-1831, or Clinton Miyazono, Director, at 312-508-5782 for more information regarding this transaction.