NEW YORK--(BUSINESS WIRE)--Aeronix Technologies Group (“ATG”) announced today that Tinicum, L.P. and its affiliated funds (“Tinicum”) had acquired a controlling interest in ATG from ShoreView Industries (“ShoreView”). Both ATG employee shareholders and ShoreView will retain a significant interest in the company going forward.
Headquartered in Melbourne, FL, ATG is a supplier of high-reliability defense electronics supporting the secure, high-speed transmission, storage, and processing of data for aircraft, shipboard, ground and space applications. ATG’s businesses—Aeronix, ITI Engineering, Augustus Aerospace and SIP—provide mission-critical, all-domain C5ISR solutions to support leading defense contractors, the U.S. Department of Defense, allied militaries and the warfighter.
Geoff Miller, CEO of ATG, commented: “We believe Tinicum is the right partner for ATG during its next phase of growth. Tinicum and ATG share a strong alignment in their go-to-market strategies emphasizing collaboration with customers to develop customized solutions. Furthermore, it is clear we share common values grounded in innovation, quality and a culture of excellence.”
Arkady Gelman, a principal at Tinicum, added, “We have tremendous respect for the business that ATG employees have built over the past several decades. The ATG businesses have earned a reputation for investment, innovation, agility and reliability across the defense ecosystem. We are excited by the prospect of collaborating with the team to build on the company’s strong foundation to serve an even broader array of critical national security applications.”
About Aeronix Technologies Group
For more than 38 years, ATG has provided advanced high-reliability, high-performance hardware, software and engineering services across air, space, sea, land and cyber domains. ATG’s products are deployed on dozens of next-generation and legacy U.S. and allied mission platforms. A technology-centric organization, more than 70% of ATG’s staff are engineers, supporting customers and end-users from the company’s 12 U.S. locations and at numerous sites in the field globally. For more information, visit www.aeronixtg.com.
About Tinicum
Tinicum, founded in 1974 as a family investment office, is a private partnership that manages a diversified group of manufacturing, distribution, and industrial technology companies. It seeks to be a trusted partner of business owners and executives who share its belief that long-term prosperity can be created by teams of capable, honest people working together and investing diligently to fulfill the potential of a great business. For more information, visit www.tinicum.com.
About ShoreView
Founded in 2002, ShoreView is a Minneapolis-based private equity firm that has raised over $1.8 billion of committed capital across five funds. ShoreView partners with family and entrepreneur owned companies across many sectors, including niche manufacturing, value-added distribution, business services, residential services, industrial services, niche consumer, and aerospace/defense. Shoreview structures various acquisition, recapitalization, and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million. For more information, visit www.shoreview.com
