Private equity firm forms new defense manufacturer with two acquisitions

Private equity firm Ventus Industrial Partners has formed a new company in the defense market that will focus on developing new manufacturing capabilities.

The launch of Aeron Defense comes with two acquisitions announced Wednesday – General Tool Co. and Magna Machine Co. Other investors include GenNx360 Capital Partners and Admiralty Partners.

Ventus' goal in starting Aeron is to build a group of manufacturing partners for the defense industry through investments in people, facilities and equipment.

Aeron will also offer ownership incentives for all employees, access to operating and advisory teams, and focus on organic growth and acquisitions.

"Aeron’s mission is to support the effort to scale the broader defense industrial base across key military programs and become an employer of choice with our ownership for all workforce incentive model,” said Valerio Massimo di Roccasecca, managing partner and co-founder of Ventus.

General Tool Co. is a manufacturing partner for several key platforms such as Columbia-class and Virginia-class submarines, Ford-class aircraft carriers, Arleigh Burke-class destroyers, and the F-35 fighter jet.

Magna adds large-part machining and turnkey large functional assemblies.

The Kramer family, which started GTC and Magna together, will hold a minority stake in Aeron. Di Roccasecca started Ventus alongside retired Navy Vice Adm. William Hilarides and Irwin Edenzon, former president of Ingalls Shipbuilding.

Winston & Strawn served as legal counsel to Aeron. Taft LLP served as counsel to GTC and Magna. Harris Williams served as financial adviser and placement agent to Ventus.