Industry veteran Kevin Vicha appointed CEO of Axillon Aerospace, a leading provider of specialty materials for the defense and commercial aerospace markets.
NEW YORK--(BUSINESS WIRE)--Nov. 4, 2024--
SK Capital, a private investment firm focused on the specialty materials, ingredients and life sciences sectors, completed its previously announced acquisition of the North America Composites & Fuel Containment Division of Parker Hannifin Corporation (NYSE: PH). The business, which has been renamed Axillon Aerospace (“Axillon Aerospace” or the “Company”), is a leading provider of engineered carbon fiber composite components and fuel containment solutions for the defense and commercial aerospace markets. Axillon Aerospace generates annual sales of approximately $350 million, operates six manufacturing locations across the USA and Mexico, and employs approximately 1,700 people.
Jared Kramer, a Principal at SK Capital, said, “Axillon Aerospace has a rich heritage of providing differentiated material science solutions for leading customers across the aerospace and defense sector. SK Capital is investing in Axillon Aerospace to build upon its legacy of innovation, quality, and commitment to customer excellence to become the leading provider of engineered carbon fiber composite components and fuel containment solutions for the defense and commercial aerospace markets.”
The Company also announces that tenured aerospace and defense industry executive Kevin Vicha has been appointed CEO of Axillon Aerospace. Most recently, Kevin served as CEO of Bromford Industries and previously served in leadership positions at Pratt & Whitney, Engine Alliance, and GKN Aerospace.
“Axillon Aerospace is remarkably well positioned for growth. The design and manufacturing capability is proven across the world's leading aerospace and defense platforms, with our advanced technology supporting next generation aerospace programs,” stated Kevin Vicha, CEO of Axillon Aerospace. “The team at Axillon Aerospace has established a strong foundation and I'm excited to join as we partner with our customers for growth.”
“We welcome Kevin to the Axillon Aerospace team. His leadership experience in the aerospace and defense sector, and track record of commercial growth, operational excellence, and customer satisfaction will greatly benefit the Company as it continues its growth journey, now as an independent company,” said Jack Norris, Managing Director at SK Capital.
Latham & Watkins LLP acted as legal counsel to SK Capital. J.P. Morgan Securities LLC served as financial advisor to SK Capital and committed debt financing was provided by direct lending funds and accounts managed by HPS Investment Partners, LLC. Lazard served as exclusive financial advisor, and Jones Day acted as legal counsel, to Parker Hannifin Corporation.
About SK Capital
SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The Firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The Firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com.
About Axillon Aerospace
Axillon Aerospace is a leading provider of engineered carbon fiber composite components and fuel containment solutions for the defense and commercial aerospace markets. The business generates annual sales of approximately $350 million, operates six manufacturing locations across the USA and Mexico, and employs approximately 1,700 people. For more information, please visit www.axillonaerospace.com.
About Parker Hannifin
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Learn more at www.parker.com or @parkerhannifin.
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Jeremy Milner
BackBay Communications
(401) 862-9422
jeremy.milner@backbaycommunications.com
Source: SK Capital
