New York – March 8, 2023 – AEA Investors’ (“AEA” or the “Firm”) Middle Market Private Equity team announced today that its fund has completed the sale of LoneStar Group (“LoneStar” or the “Company”) to a financial sponsor. LoneStar is a global market leader of customized high-performance metal fasteners, gaskets and flow-control components serving the oil & gas, power generation and broader industrial end markets.
Founded in 1956 and headquartered in Wolverhampton, UK, LoneStar’s focus is on providing a wide range of highly specified and mission critical products with demanding applications to customers on a global basis. During AEA’s ownership, the Company has diversified its end market exposure, entered new geographies and product segments and expanded into the renewables segment through the acquisition of Energy Hardware in 2011. Under the leadership of CEO Steven Diamond and CFO Jon Ainsworth, the business has implemented several commercial and operational improvement initiatives which has strengthened LoneStar’s leadership position in its core markets and unlocked new opportunities for growth. This transaction underscores the Firm’s success in partnering with strong management teams to build market-leading companies in the industrial manufacturing industry.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 110 investment professionals operate globally with offices in New York, Stamford, San Francisco, London, Munich and Shanghai. The firm manages funds that have approximately $18 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies, growth capital and mezzanine and senior debt investments.
LoneStar is a leading manufacturer and distributor of metal fasteners, gaskets and flow-control components serving the oil & gas, power generation and broader industrial end markets. Headquartered in Wolverhampton, UK, LoneStar has over 1,000 employees and leverages a worldwide network of manufacturing and distribution operations to support customers on a global basis.
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