Avem Partners has acquired Riverside, California-based Future Tech Metals Inc, a supplier of roughing and finishing services for aerospace forging manufacturers. No financial terms were disclosed. True West Capital Partners provided both debt and equity capital for the acquisition while Backbone Capital Advisors arranged the debt.
Los Angeles, California – August 17, 2018 – Avem Partners LLC (“Avem”) a Los Angeles-based aerospace private equity firm, is pleased to announce the acquisition of Future Tech Metals, Inc (“Future” or the “Company”) from its founding shareholders True West Capital Partners provided both debt and equity capital for the acquisition. Backbone Capital Advisors, LLC arranged the debt for the transaction.
Future was founded in 1998 and operates out of two facilities in Southern California. Future is a leading supplier of roughing and finishing services for aerospace forging manufacturers. Future specializes in working with hard, exotic alloys.
About Avem Partners
Avem Partners, based in Los Angeles, is a private equity firm focused on investing in lower middle market aerospace and industrial companies. The Principals at Avem Partners have a unique combination of investing, operating and entrepreneurial experience. Avem acquires majority positions in founder-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. www.avempartners.com
About True West Capital Partners
True West Capital Partners is a West Coast-based investment firm that provides flexible and creative growth capital to middle-market companies in the Western U.S. True West Capital Partners typically makes investments from $5 million to $25 million in businesses with proven management teams, strong barriers to entry, sustainable competitive advantages and high free cash flows. www.truewestcp.com