Nexus Capital Management LP (Nexus), a Los Angeles-based private equity firm, announced today the acquisition of Aviation Ground Equipment Corp. (AGEC), a privately held, veteran-owned aviation ground support equipment manufacturer and distributor that serves the military and commercial industries.
The acquisition of AGEC, structured as a new entity within the HDT portfolio, allows HDT to offer complete aircraft ground power and thermal management support to key military aircraft programs, including the F35 Lightning and B21 Raider.
"The acquisition of AGEC is a natural step for Nexus and complements the products supplied by HDT's Platform Systems sector," stated Vince Buffa, Chairman of the Board for HDT Global. "This acquisition allows AGEC and HDT to develop a synergy that ultimately benefits our customers who require full flight line support."
AGEC manufactures aviation ground support equipment, including land-based and shipboard portable ground power units (GPUs) and portable universal load banks (ULBs). They were recently awarded a significant contract to design and manufacture new state-of-the-art ground power units and universal load banks to power the future of the United States Air Force.
HDT's Platform Systems sector includes aerospace ground support equipment, missile transport and emplacement systems, combat vehicle subsystems, CBRN protective systems and commercial / industrial cooling and dehumidification systems.
"We're thrilled to be the newest member of the Nexus portfolio," added Barry Spilka, AGEC President and CEO. "Since 1984, our mission has been to provide the state-of-the-art technology in ground support equipment for the aviation industry. The alignment of AGEC and HDT under the Nexus umbrella allows us to maintain our strong performance on existing programs, while growing to meet the requirements of our new business supporting the Air Force. We're excited for this next step in our evolution as we deliver the next generation of ground power equipment to the US Military."