Shelby Township, Michigan-based Models & Tools, a designer and manufacturer of tooling systems used in the aerospace and defense industries, has sold a majority ownership to Altus Capital Partners, a middle market private equity group. The senior management team of Models and Tools will remain in place and maintain a significant equity stake in the company. Transaction terms were not disclosed. McGladrey Capital Markets acted as exclusive financial advisor to Models & Tools.
Models & Tools, a premier designer and manufacturer of close tolerance, large geometry, complex assembly tooling systems used in the aerospace and defense industries, sold a majority ownership to Altus Capital Partners, a middle market private equity group. The senior management team of Models and Tools will remain in place and maintain a significant equity stake in the company going forward.
McGladrey Capital Markets acted as exclusive financial advisor to Models & Tools. Transaction terms were not disclosed.
“The number one challenge facing aerospace today isn’t getting aircraft orders, the commercial order books are full. The struggle is getting these planes made on schedule. Models & Tools’ business addresses the industry’s number one issue — factory floor output,” said Paul Weisbrich, senior managing director of McGladrey Capital Markets’ Aerospace, Defense and Government Services Group. “Altus is bringing ‘new money’ into the production tooling industry. This investment underscores that commercial and select military programs are entering a multi-year up-cycle driven by the pent-up demand of aging aircraft fleets, highlighting the attractiveness of the specialty sub-sector of production tooling.”
About Altus Capital Partners
Based in Westport, CT with an office in Lincolnshire, IL, Altus Capital Partners, Inc. invests alongside management in profitable small to medium-sized manufacturing companies to help seize growth opportunities and solve succession challenges. The partners of Altus Capital Partners have worked together for more than 15 years, refining a disciplined approach toward creating shareholder value by acquiring and growing unique manufacturing companies in the U.S.
About Models & Tools
Founded in 1974, Models & Tools designs and manufactures assembly tooling systems for the aerospace and defense tooling industry. The Company’s products are integral to commercial and military aircraft applications and include assembly fixtures, N/C machined bond and cure tools, workstands, drill & trim tools, molds and facilities equipment integrated with light automation. Models &Tools’ 115,000-square-foot office and climate-controlled manufacturing facility is located in Shelby Township, Michigan.
About McGladrey Capital Markets
McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.
McGladrey Capital Markets is an indirect subsidiary of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.