KLX, Inc. Acquires Herndon Aerospace & Defense
Washington, D.C., May 2016 — HCI Equity Partners is pleased to announce it successfully completed the sale of Herndon Aerospace & Defense to KLX, Inc. (NASDAQ: KLXI) on May 17, 2016. Herndon Aerospace & Defense was created after the merger of portfolio companies Herndon Products, Inc. and Polygon Aerospace, Inc.
Herndon Products, Inc., headquartered in St. Louis, Missouri, specializes in providing value added supply chain management solutions and third party logistics for consumable hardware utilized in military applications including fixed and rotary wing aircraft, wheeled and tracked vehicles, and sea vessels.
Polygon Aerospace, Inc, headquartered in Houston, Texas, is a leading provider of aircraft fasteners. Polygon provides studs, washers, clamps, hilocks, nuts, bolts, pins and collars, seals, screws, lead bonds, rivets, as well as bushings, rings, fittings, and bearings for the aerospace manufacturing and maintenance industry.
KLX is the world's largest value added service provider of aerospace fasteners and consumables with revenues in excess of $1.5 billion.
Managing Partner Doug McCormick commented, "We were pleased to support the Herndon and Polygon teams to consummate four acquisitions creating a business of scale with significant capabilities across the entire aerospace and defense supply chain. This is a great example of the real value creation that occurs when private equity capital complements an exceptional team and sound acquisition strategy."