Primus International Acquires St Bernard Composites
For Immediate Release
Bellevue, WA. May 5, 2007 – Primus International, Inc., a leading global Tier II supplier of aircraft structures, and a portfolio company of Oak Hill Capital Partners, announced today that it has acquired St Bernard Composites Limited, a supplier of advanced structural composite components to the global aerospace industry.
Terms of the transaction were not disclosed.
Primus’s CEO Jim Hoover said, “St Bernard represents a highly strategic acquisition for Primus. The addition of composite technology is consistent with Primus’s strategy to offer a complete manufacturing and assembly solution for our customers. We will benefit from St Bernard’s strong customer relationships and experienced, entrepreneurial management team that has a history of growth, innovation and financial achievement.”
Jim Hoover continued, “Primus’s strategy is to grow aggressively while diversifying its end customers, content, platforms and geographic scope. We will now be uniquely positioned to offer metallic and composite subsystems, kits and assemblies. St Bernard’s European presence and diversified customer base will strengthen and expand Primus’s relationships with OEMs and key Tier I customers.”
St Bernard’s Chief Executive Officer John Merritt said, “St Bernard brings clear market and product synergies to Primus and will enable the combined company to provide a more comprehensive set of product solutions to our customers.”