Merit Capital Partners is pleased to announce the successful exit of its Fund V investment in RSA Engineered Products (“RSA” or the “Company”). RSA was sold in February 2020 to TriMas Corporation, a diversified global manufacturer and provider of products for customers primarily in the consumer products, aerospace and industrial end markets.
Merit made its investment in RSA in 2012 in partnership with Cornerstone Capital Holdings. Headquartered in Simi Valley, California, RSA designs and manufactures a broad array of highly-engineered airflow control systems for use in commercial and military aircraft. RSA’s primary products include ducting, anti-icing and ozone products. The majority of the Company’s sales are comprised of proprietary part numbers exclusive to the Company. RSA sells to a broad customer base that spans a high number of both legacy and new aircraft platforms.
Jonathan Alt, a Principal and Founder of Cornerstone Capital commented, “Our collective investment in RSA was a great success story for all stakeholders. Merit was the ideal capital partner for this complex transaction, which included the challenge of capitalizing a corporate carve-out, and establishing a new operating facility within a few months of closing. Throughout our investment period, we worked alongside Merit to expand capacity and build an exceptional management team, ultimately leading to a successful exit for the shareholders and management.“
Merit invested both subordinated debt and equity in its acquisition of RSA.
Merit, Cornerstone and RSA were advised on the transaction by Houlihan Lokey. Please contact Evan Gallinson or Tim MacKenzie for additional information.