Feb. 20, 2020

Gallant Capital Partners Completes Recapitalization and Growth Partnership with Cassavant

Los Angeles, CA / Phoenix, AZ – February 20, 2020 – Gallant Capital Partners (“Gallant”), a Los Angeles based investment firm announced today the completion of a recapitalization and growth investment in Cassavant Machining, Inc. (“Cassavant” or the “Company”), a leading designer, engineer and manufacturer of precision machined components and assemblies, in partnership with Joe Cassavant Jr. and Ed Cassavant.

The Company manufactures thousands of complex and unique parts that are utilized in mission-critical applications and require the highest level of quality and reliability, primarily serving the aerospace & defense and commercial aviation industries. Parts and components include fluid and fuel control components, air cycle & engine components, APU components and gear components.

Gallant is partnering with the senior leadership team – whom will remain significant shareholders in the recapitalized Company and who will continue to be led by Joe Cassavant Jr and Ed Cassavant – to aggressively grow the Company’s manufacturing capabilities while maintaining the industry leading service levels its customers expect. In addition, Koben Miceli has joined the Company as Chief Operating Officer. Miceli rounds out the team with significant experience scaling manufacturing businesses while pursuing world class operations.

Jon Gimbel, Partner at Gallant said, “Cassavant’s strong dedication to partnering with and serving the world’s leading aerospace and defense customers make it a very attractive platform investment. Its unmatched service, flexibility and technical capability provide the strong foundation to support its future growth. We are committed to supporting Cassavant with our operational resources and our flexible capital base to drive long term growth, both organically and through strategic acquisitions.”

“Gallant is the perfect partner for Cassavant as we continue to expand our capabilities and strengthen our strategic relationships,” said Joe Cassavant Jr. and Ed Cassavant. “As a family owned and operated business since 1972, it was important for us to identify a partner who shares our values and commitment to quality and customer service. Gallant’s operational capabilities combined with their industry expertise and relationships made a partnership with Gallant the obvious next step for the Company. We look forward to working with the Gallant team to continue to build a world class organization.”

“We are excited by the outlook of the aerospace industry and look forward to partnering with management to pursue additional growth opportunities where Cassavant can deliver value to its customers,” added Anthony Guagliano, Partner at Gallant. “Cassavant is a strategic investment for Gallant as we continue to build a comprehensive aerospace portfolio. We are excited to welcome the Cassavant team to the Gallant family!”

Terms of the transaction were not disclosed. Gallant was advised by Lincoln International and was represented by Stradling Yocca Carlson & Rauth as M&A counsel and Perkins Coie as debt finance counsel. Comvest Credit Partners and TCW Group provided the debt financing for the transaction.

About Gallant Capital Partners

Gallant Capital Partners is a private equity firm that makes control investments in technology, industrial and business services companies. Gallant executes on an operationally focused investment strategy with a focus on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, family-owned companies and management teams to maximize value and long-term, sustainable growth for portfolio companies. Gallant Capital Partners was founded in 2018 and is headquartered in Los Angeles. For more information please visit: www.gallantcapital.com.

About Cassavant

Founded in 1972 and headquartered in Phoenix, AZ, Cassavant is a leading manufacturer of critical components for engines, APUs, fuel and fluid systems, gears, hydraulics, and valves for the majority of commercial, military and business jet platforms serving the aerospace and defense industry. Cassavant is a key supplier for major global OEMs and utilizes its vertically integrated manufacturing expertise and broad capabilities set to deliver high quality products and services to its customers. For more information please visit: www.cassmac.com.

For More Information Contact:

Amish Tolia, Vice President