AE Industrial Sells Stake in Engineering Firm ENERCON to Oaktree Capital

Aerospace, defense and government services-focused private equity firm AE Industrial Partners has agreed to sell engineering firm ENERCON Services to asset manager Oaktree Capital Management.

Financial terms of the deal were not made available, but AEI will continue to hold a minority stake in ENERCON, which it bought just two years ago.

Founded in 1983, Kennesaw, GA-based ENERCON provides power generation, power delivery and related markets, including nuclear, renewable and conventional power generation, transmission and distribution, distributed generation, battery storage and EV infrastructure.

“ENERCON has solidified its position as a leader in specialized engineering services, and we believe that the Company is well positioned to benefit from the attractive tailwinds in its energy and environmental end markets,” said Michael Greene, Managing Partner at AEI.

AEI filed to raise up to $1.75 billion for its third fund in April last year but has not publicly revealed a final close for the vehicle.

Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to AEI on the transaction.