H-D Advanced exits Firstmark


H-D Advanced Manufacturing Co said Dec. 3 that it sold Firstmark Corp. Firstmark, of Creedmor, North Carolina, makes components and subsystems for the aerospace and defense industries. BBA Aviation acquired Firstmark for $97 million, according to press reports. H-D is backed by Riverside Co, Hicks Equity Partners and Weinberg Capital Group.

PRESS RELEASE
H-D Advanced Manufacturing Company Soars with Latest Exit
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.