Graham Partners Flies High with Latest Exit
October 9th, 2018
Graham Partners, a private investment firm targeting industrial technology and advanced manufacturing companies, is pleased to announce the successful sale of The Atlas Group (“Atlas”). Headquartered in Wichita, Kansas, Atlas is a leading manufacturer of new and replacement structural components and complex assemblies for commercial, business, and military aircraft. The company serves a premier global customer base comprised of aerospace industry leaders, such as Boeing, Spirit AeroSystems, Textron Aviation, Honeywell, Northrop Grumman, and Gulfstream. Through its state-of-the-art, automated operations, Atlas is capable of delivering complex assemblies and engineered structural components designed for aircraft from the cockpit to the tail.
Graham Partners partnered actively with Atlas to build an industry leading platform recognized for its manufacturing expertise and reliability in supplying high-quality complex assemblies. In particular, Graham Partners and Atlas management collaborated to diversify the business into a broader mix of blue chip customers and aircraft submarkets, enhance the company’s offering to incorporate more sophisticated manufacturing technologies and engineering capabilities, and streamline and strengthen its manufacturing operations. Collectively, these achievements resulted in more than a doubling of revenues and 88% EBITDA growth during Graham’s ownership.
Rick Wolf, CEO of Atlas, states, “Graham has been instrumental in shaping the strategy and vision of Atlas, as well as providing support with regard to operational efficiency, add-on acquisitions, and new business expansion. Graham’s operational background and expertise, coupled with its network of experienced industry professionals, has helped the company grow into a larger, more diversified business poised for long-term growth.” Chris Lawler, Managing Principal at Graham Partners, adds, “Atlas’ strong industry position and management’s focus on continuous improvement made it very rewarding to partner with the team. We are proud to have built a widely respected leading aerospace assemblies manufacturer and we wish Atlas continued success under new ownership.” Steven Graham, Senior Managing Principal of Graham Partners, concludes, “Graham has always focused on building bigger, better, and safer companies and Atlas is no exception. We are confident Atlas will continue its growth under new ownership.”
Dechert LLP served as legal advisor and Lazard served as financial advisor to Atlas on the transaction.
Atlas, based in Wichita, Kansas, manufactures flight-critical, complex assemblies for a diverse group of commercial, military, and business aircraft, including the 737MAX, F-35 Joint Strike Fighter, Gulfstream G650, and nearly every Textron Aviation business aircraft. Atlas has developed a unique set of machining, specialty forming and chemical processing capabilities, supported by automation technology and low-cost manufacturing. This vertical integration allows Atlas to deliver a broad range of complex aircraft assemblies, including complete aircraft doors, wing structures, and flight control assemblies for a growing list of leading aerospace OEMs.