Acorn Growth and Cherokee Nation Buy Aerospace Products

Acorn Growth Companies, a private equity co-investor in the aerospace and defense industries, and Cherokee Nation Businesses have purchased Alabama-based Aerospace Products, an aerospace parts and logistics firm, Deal terms were not disclosed.

Press release: Cherokee Nation Businesses, a wholly owned corporation of the
Cherokee Nation, and Acorn Growth Companies, have announced the acquisition of
Alabama-based Aerospace Products S.E., Inc. (APSE). APSE is a well-known aerospace
parts and logistics firm with offices in Huntsville, Ala., San Antonio, Texas and Wichita,
Kan.
“This acquisition fits our long-term vision of growth for the economy of the
Cherokee Nation,” said Brad Carson, CEO of Cherokee Nation Businesses. “APSE adds
to our portfolio of aerospace companies and we look forward to working with Acorn
Growth Companies to expand APSE’s market share.”
“We are very excited about this transaction because we believe it represents an
excellent opportunity to continue to provide the high quality service that customers have
come to expect from APSE,” said Jeff Davis, a partner in Acorn Growth Companies.
“The operational and financial expertise of Acorn within the aerospace and
defense community, combined with the expertise and benefits of Cherokee tribal
ownership means that the new APSE will be well positioned to support its customers
today, tomorrow and well into the future,” said Rick Nagel, also a Partner in Acorn
Growth Companies.
“This was a very complex transaction completed in a short time frame,” Carson
said. “Cherokee Nation is serious about making strategic acquisitions.”
“This particular transaction is also groundbreaking because it represents a joint
acquisition involving the Cherokee Nation and an Oklahoma based private equity firm
which further demonstrates the maturation of the private equity community in the state,”
Davis said. “Working with the Cherokees was a pleasure and we were gratified that the
transaction was completed very quickly.”
APSE supports numerous key commercial and governmental aircraft programs
including the KC-135, which is based in Oklahoma City at Tinker Air Force Base.
APSE’s customers include, Boeing Commercial Airplane Group, Boeing Military
Programs, Northrop Grumman, Honeywell and Bell Helicopter among others.
The Government, Aerospace and Defense Team of Focus Investment Banking of
Washington DC (www.focusbankers.com) acted as financial advisors to Aerospace
Products, S. E., Inc. in conjunction with the transaction and introduced the company to
Acorn Growth Companies.
Gear Up Capital also served as an advisor to Cherokee Nation Businesses on the
APSE acquisition. Gear Up is a Tulsa based independent financial advisory firm,
providing research, analysis and financial advisory services to small and middle market
companies. Gear Up focuses on providing diligent, detailed analysis, often absent from
this sector of the market. Contact David Reynolds at david@gearupfinance.com for more
information.
About Acorn
Acorn Growth Companies, based in Midwest City, Oklahoma, is an investor in aerospace
and defense businesses across the United States. Acorn has positioned itself as a gateway
for the strategic deployment of capital within these niche investment areas by aligning
itself to co-invest with larger private equity firms from both coasts seeking to diversify
their holdings and enter the aerospace sector.
About Cherokee Nation Businesses
Cherokee Nation Businesses, L.L.C., is the economic engine of the Cherokee Nation, the
nation’s second largest Indian tribe. Cherokee Nation Businesses owns companies in the
gaming, hospitality, personnel services, distribution, manufacturing, telecommunications
and environmental services industries. These businesses have revenues of nearly $500
million every year and earn nearly $100 million in profits. Cherokee Nation Businesses’
aerospace company, Cherokee Nation Industries, has manufactured products for the
Department of Defense, Boeing, L-3, Sikorsky, Lockheed Martin and many others. For
more information on Cherokee Nation Businesses, please visit
www.cherokeenationbusinesses.com.