Oak Hill Capital Partners has acquired Primus International, a leading supplier of structural components, kits and assemblies to the global aerospace industry. Financial details were not disclosed.
Oak Hill will own the company in partnership with management, and Primus CEO Jim Hoover, who previously spent 20 years with Northrop Grumman, will continue to serve in that role.
“Primus is a critical supplier to some of the most popular, fastest growing aerospace platforms,” said Oak Hill managing partner Denis Nayden. “We intend to use the investment as a base for future growth.”
Oak Hill has identified the aviation market as one slated for rapid growth, and the firm has identified Primus as a standout in the sector because of its relationships with high-profile aerospace companies like Boeing. The company has awarded Primus the Boeing President’s Award five times.
The firm also points to Primus’ wholly-owned manufacturing facility in Suzhou, China as a good foothold in the growing aerospace manufacturing and assembly activity in Asia.
Over the last few years Oak Hill has been eyeing investment in commercial aircraft, and the firm says it plans to use Primus as a platform to grow both both organically and through acquisitions. Oak Hill will likely be taking a look at European supplier companies as well as opportunities in Asia as it looks to fuel growth