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Littlejohn acquires controlling stake in ArmorWorks

Littlejohn Capital has recapitalized ArmorWorks, a provider of survivability and security products to military and enforcement agencies. No financial terms were disclosed. As a result of the transaction, Littlejohn now has a controlling stake in ArmorWorks, which recently emerged from Chapter 11.

PRESS RELEASE

CHANDLER, Ariz., Dec. 1, 2014 /PRNewswire/ — ArmorWorks Enterprises, LLC (“ArmorWorks”), a leading provider of advanced survivability products, today announced that it has successfully completed a recapitalization with support from Littlejohn Capital, LLC (“Littlejohn Capital”), which now has a controlling interest.

Following a significant operational restructuring ArmorWorks is actively servicing its customers and, with a strong balance sheet, has the liquidity to continue the development of innovative survivability solutions to military and law enforcement customers globally. The company provides military aircraft, vehicle and body armor systems, crash and mineblast resistant seating systems, security products and related services.

Chief Executive Officer, William Perciballi, will be supported by a strong senior management team with many years of experience with the company. “The new partnership with Littlejohn Capital demonstrates their confidence in the long-term potential of our company. As a result of their support we are perfectly positioned with the right financial structure to launch our next generation of protective products and capture new opportunities that will save lives. I would like to especially thank our loyal employees, customers, and suppliers who have supported us during this process,” said Mr. Perciballi.

Mr. Perciballi added that the company will work closely with Littlejohn Capital to fully develop the company’s strategic growth plans and continue investments in its core markets – armor, seats, and security – as well as identify strategic add-on acquisitions that will enhance the company’s products and services. “We are going to continue to be the technology pioneer for these and related products,” said Mr. Perciballi.

“ArmorWorks is a leader in its industry and long recognized for its technology-driven performance materials and quality products. We are very pleased to support the company and partner with a highly motivated management team in this next stage of development,” said Mr. Littlejohn. “We share a vision for the company’s growth and look forward to partnering with Bill and the team to further strengthen the company.”

ArmorWorks emerged from Chapter 11 after the U.S. Bankruptcy court in Arizona approved the transaction on November 21.

About ArmorWorks
Founded in 1996, ArmorWorks is a leading provider of advanced survivability and security products to military and enforcement agencies worldwide. ArmorWorks provides military defense technology using high-tech materials to provide state-of-the-art protection. ArmorWorks is a U.S. military contractor. For more information, visit www.armorworks.com.

About Littlejohn Capital
Littlejohn Capital was founded by Angus C Littlejohn Jr., co-founder of Littlejohn & Co., where he currently serves as Chairman. Mr. Littlejohn has been a successful operationally oriented private equity investor for 30 years. Littlejohn Capital, LLC seeks to make control investments in small to mid-sized private companies that are undergoing strategic, operational or generational transitions. Our goal is to actively partner with motivated management teams and lead the company to its next stage of development.