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Industry News
ArmorWorks recapitalizes

Investor group Littlejohn Capital has taken a stake in the company, which produces survivability products.

Author:
Posted on: 12/8/2014
Source: CompositesWorld

ArmorWorks Enterprises, LLC (Chandler, AZ, US), a provider of advanced survivability products, announced December 3 that it has successfully completed a recapitalization with support from Littlejohn Capital, LLC (Greenwich, CN, US), which now has a controlling interest in the company.

Following a significant operational restructuring, ArmorWorks is actively servicing its customers and, with a strong balance sheet, has the liquidity to continue the development of innovative survivability solutions to military and law enforcement customers globally.  The company provides military aircraft, vehicle and body armor systems, crash and mineblast resistant seating systems, security products and related services.

Company CEO William Perciballi will be supported by a strong senior management team with many years of experience with the company: “The new partnership with Littlejohn Capital demonstrates their confidence in the long-term potential of our company.  As a result of their support we are perfectly positioned with the right financial structure to launch our next generation of protective products and capture new opportunities that will save lives.  I would like to especially thank our loyal employees, customers, and suppliers who have supported us during this process,” said Mr. Perciballi.

Mr. Perciballi adds that the company will work closely with Littlejohn Capital to fully develop the company’s strategic growth plans and continue investments in its core markets – armor, seats, and security – as well as identify strategic add-on acquisitions that will enhance the company’s products and services:  “We are going to continue to be the technology pioneer for these and related products,” said Mr. Perciballi.

“ArmorWorks is a leader in its industry and long recognized for its technology-driven performance materials and quality products. We are very pleased to support the company and partner with a highly motivated management team in this next stage of development,” says Angus Littlejohn.

ArmorWorks emerged from Chapter 11 after the U.S. Bankruptcy court in Arizona approved the transaction on November 21.

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