CapitalWorks Private Equity Firm Cleveland Ohio

Capewell Systems Acquires Aerial Machine and Tool

black_block(SOUTH WINDSOR, CT) Capewell Systems has acquired Aerial Machine and Tool Corporation, a manufacturer of aviation, safety and tactical gear for military, law enforcement and commercial customers worldwide. Terms of the purchase from Aqua Lung Corporation of San Diego, California, were not disclosed.

Owned by private equity firm CapitalWorks, LLC of Cleveland, Ohio, Capewell Systems seeks to continue acquiring military life support and aerial delivery manufacturing companies. Capewell will be renamed Capewell Aerial Systems. Aqua Lung is a leading manufacturer of aquatic equipment for recreational and professional use including the Aqua Sphere and U.S. Divers brands.

Located in Meadows of Dan, Virginia, Aerial Machine and Tool’s manufacturing capabilities include light and heavy duty technical sewing, metal part machining and RF welding for inflatables. Aerial also distributes tactical helmets and emergency breathing devices for military applications.

“Aerial has a long standing reputation for the highest levels of quality and service as a provider of air soldier systems,” said Rick Wheeler, CEO of Capewell Systems. Wheeler will continue as CEO of Connecticut-based Capewell Aerial Systems.

For customers in special operations, combat aviation, the Coast Guard and other service branches, Wheeler said Capewell Aerial Systems can now outfit personnel with tactical gear from head to toe as well as provide payload delivery products and mission critical gear that supports search, rescue and extraction.

John Marcaccio, president of Aerial Machine and Tool, said the combined company is poised to continue a strong growth trajectory domestically and overseas due to a strong sales and marketing team. “Capewell Aerial Systems will be a world leader of air soldier life support equipment,” he said.

CapitalWorks acquired Capewell Systems along with sister companies Ripley Tools and MH Rhodes Cramer in February. MH Rhodes Cramer, which manufactures electrical and mechanical timers for commercial and military applications, will be folded into Capewell Aerial Systems.

“CapitalWorks is excited about the growth opportunities for Capewell Aerial Systems,” said Todd Martin, a partner at CapitalWorks. “We have augmented an outstanding management team with a seasoned team of industry leaders.”

About Capewell Aerial Systems

Capewell Aerial Systems designs and manufactures highly advanced aerial delivery systems, parachute hardware and emergency descent devices. Capewell’s aerial delivery systems are used in military transport aircraft across the world. The Company also manufactures and sells electric and motorized timers for commercial and military applications. Capewell was acquired by CapitalWorks in February 2014.

About Aqua Lung

Aqua Lung pioneered the creation of modern diving equipment in 1943 when Captain Jacques-Yves Cousteau developed the first “aqua-lung” that made underwater exploration possible. Today, the brand continues to be the leading global designer and manufacturer of dive and water sports gear. The company’s rich history as an expert in the dive and water sports industry has led to the demand of Aqua Lung equipment for recreational, technical and military applications in more than 90 countries around the world, under brand names Aqua Lung, Aqua Sphere, Apeks, U.S. Divers, and Stohlquist.

About CapitalWorks

CapitalWorks is a Midwestern and family-focused private equity firm that encourages knowledgeable investors to partner with them in finding, vetting and owning companies. The firm acquires lower middle-market companies in the Greater Midwest and invests with a bias toward value and preservation of capital. Founded by Rob McCreary in 1999, the company is now managing its fourth committed fund. CapitalWorks’ offices are in the eastern suburbs of Cleveland, Ohio.

CapitalWorks Media Contact

Todd Martin, 216-472-5545; tmartin@capitalworks.net

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