Goldner Hawn Johnson & Morrison has sold Remmele Engineering to RTI International Metals (NYSE: RTI) for $182 million, including $179 million in cash and the assumption of $3 million of equipment leases. Remmele is a manufacturer and designer of components and automated assembly systems for the aerospace and defense, pharmaceutical and medical industries. GHJ&M acquired Remmele in March 2007.
Since the beginning of 2007, PE investors have completed 42 exits from companies involved in the Aerospace and Defense industry, according to the PitchBook Platform. Prior to 2010, corporate acquisitions powered the exit flow—especially in 2008, when eight corporate acquisitions and just two secondary buyouts were completed. However, the ratio of secondary buyouts to the total exits per year has gotten a boost in the last two years. It will be interesting to see whether this pattern will continue in 2012, which has three corporate acquisitions and one secondary buyout so far.