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8/21/2007

Littlejohn & Co. Announces Acquisition of Synchronous Aerospace Group

Littlejohn & Co., LLC, a private investment firm that applies an operational approach to building middle-market companies, today announced that it has acquired Synchronous Aerospace Group ("Synchronous" or the "Company"), a manufacturer of quality precision-machined parts and integrated kits and assemblies to the commercial and defense aerospace and space markets. Headquartered in Santa Ana, CA, Synchronous has built its reputation by supplying leading aerospace original equipment manufacturers ("OEMs") and Tier I suppliers with unique and complementary capabilities at facilities strategically located throughout the United States. Synchronous employs an integrated supply chain structure that provides customers with a wide range of fabricated products and the reliability and accountability of a single source. The Company's products are installed on many of the aerospace industry's most well-known platforms. "Synchronous enjoys strong positions on critical aerospace platforms and has a superb reputation with its blue-chip customer base," said Edmund J. Feeley of Littlejohn & Co. "While most of the Company's operations have been successfully serving the same customer base since the 1970s, Synchronous is still relatively young as a combined organization. We believe we can help management to build upon the strong platform and processes they have established over the past several years and accelerate the Company's growth." Synchronous was initially formed in 2002 through Hancock Park Associates' acquisition of Fansteel Schulz Products. Over the following three years, Synchronous grew through six add-on acquisitions, the largest of which, Compass Aerospace, was completed in 2005. Through this series of combinations, the Company has broadened its geographic footprint as well as its machining, assembly and kitting capabilities, which serve as a key means of differentiation in the marketplace. Synchronous has approximately 650 employees throughout the United States. Mark Heasley, President and Chief Executive Officer of Synchronous, said, "Global customers demand that their suppliers manufacture increasingly complicated parts and systems that require multiple competencies. Our expertise with complex machining, hard-metal fabrication and specialized assemblies makes Synchronous a key partner to OEMs and Tier I suppliers, as they seek to narrow their supply chains. We look forward to working with our new partners at Littlejohn to leverage our strong customer relationships and drive operational improvements throughout the business to take Synchronous to new heights." In addition to the Synchronous transaction, Littlejohn recently consummated the acquisitions of CoActive Technologies, the former ITT Switch business, and Van Houtte Inc., one of North America's leading gourmet coffee roasters, marketers and distributors. About Littlejohn & Co., LLC Founded in 1996, Littlejohn & Co., LLC is a Greenwich, Connecticut-based control-oriented private equity firm seeking investment opportunities in the middle-market sector that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm's professionals manage three funds with committed capital of approximately $1.6 billion. The firm is currently investing from Littlejohn Fund III, L.P. which has $850 million in capital commitments. For more information, visit www.littlejohnllc.com, or Littlejohn can be reached at 203-552-3500.


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