(Cleveland, Ohio) Midwestern private equity firm CapitalWorks, LLC, has acquired Capewell Systems, Ripley Tools and MH Rhodes Cramer from the Capewell Components Holding Company owned by New York City private investment firm Meriwether Capital. Terms were not disclosed.
Capewell Systems (capewell.com) designs and manufactures highly advanced aerial delivery systems, parachute hardware and emergency descent devices. Capewell aerial delivery systems are used in military transport aircraft across the world. The company is also the exclusive manufacturer and supplier of the Emergency Descent Device (EDD), a safe method for rapidly descending up to seventy feet in an emergency.
“Capewell has provided leading edge life support and aerial logistics technology to the military for more than 130 years,” said Todd Martin, partner at CapitalWorks. “We will support the continued advancement of Capewell’s technology as well as its longstanding commitment to excellence.”