PARIS, IL — On January 10, 2019, Cornerstone Capital Holdings acquired AeroGen-TEK (formerly called MECO) from Doncasters Group LTD, a UK-based manufacturer of aerospace and power generation components and assemblies.
AeroGen-TEK manufactures precision metal fabrications and machined components for aerospace, industrial gas turbine, and marine markets. It specializes in building complex engine combustors, turbine engine inlets, exhaust components, and augmentor liners. With core competencies in metal forming, welding, and precision laser hole drilling, the company is a critical supplier to many leading aircraft and gas turbine engine OEMs. Key customers include Rolls Royce, GE Aviation, Siemens, PSM and Mitsubishi Hitachi Power Systems.
President Tim Hough will continue to run the business and drive its dynamic growth objectives with both existing and new customers in aerospace, defense and power generation. “Our entire team here has worked diligently and accomplished a tremendous amount over the past two years to expand and diversify our revenue base,” Hough said, adding “We are excited to now join Cornerstone Capital Holdings and work with their principals and other portfolio companies as we build upon AeroGen-TEK’s exciting positive momentum.”
David Smoot, Doncasters CEO, congratulated Cornerstone adding: “This deal is an excellent result for all stakeholders and completes Doncasters’ planned divestiture of its North American fabrications businesses. AeroGen-TEK fits perfectly alongside Cornerstone’s other portfolio businesses and we wish them every success in their future endeavors.”
This acquisition represents the seventh corporate divestiture completed by Cornerstone – all since 2012.
Cornerstone Capital Holdings is a diversified holding company comprised of leading manufacturing and industrial service businesses. Cornerstone companies serve aerospace, defense, space and various industrial markets from ten locations throughout North America. Founded in 2000, Cornerstone has grown both organically and through multiple, targeted acquisitions.