"the People's Paths!" Cherokee News Path - Acquisition of Aerospace Firm Completed

TULSA, Oklahoma - Cherokee Nation Businesses, a wholly owned corporation of the Cherokee Nation, and Acorn Growth Companies, have announced the acquisition of Alabama-based Aerospace Products S.E., Inc. (APSE). APSE is a well-known aerospace parts and logistics firm with offices in Huntsville, Ala., San Antonio, Texas and Wichita, Kan.

“This acquisition fits our long-term vision of growth for the economy of the Cherokee Nation,” said Brad Carson, CEO of Cherokee Nation Businesses. “APSE adds to our portfolio of aerospace companies and we look forward to working with Acorn Growth Companies to expand APSE’s market share.”

“We are very excited about this transaction because we believe it represents an excellent opportunity to continue to provide the high quality service that customers have come to expect from APSE,” said Jeff Davis, a partner in Acorn Growth Companies.

“The operational and financial expertise of Acorn within the aerospace and defense community, combined with the expertise and benefits of Cherokee tribal ownership means that the new APSE will be well positioned to support its customers today, tomorrow and well into the future,” said Rick Nagel, also a Partner in Acorn Growth Companies.

“This was a very complex transaction completed in a short time frame,” Carson said. “Cherokee Nation is serious about making strategic acquisitions.”

“This particular transaction is also groundbreaking because it represents a joint acquisition involving the Cherokee Nation and an Oklahoma based private equity firm which further demonstrates the maturation of the private equity community in the state,” Davis said. “Working with the Cherokees was a pleasure and we were gratified that the transaction was completed very quickly.”

APSE supports numerous key commercial and governmental aircraft programs including the KC-135, which is based in Oklahoma City at Tinker Air Force Base. APSE’s customers include, Boeing Commercial Airplane Group, Boeing Military Programs, Northrop Grumman, Honeywell and Bell Helicopter among others. The Government, Aerospace and Defense Team of Focus Investment Banking of Washington DC (www.focusbankers.com) acted as financial advisors to Aerospace Products, S. E., Inc. in conjunction with the transaction and introduced the company to Acorn Growth Companies.

About Acorn Growth Companies:

Acorn Growth Companies, based in Midwest City, Oklahoma, is an investor in aerospace and defense businesses across the United States. Acorn has positioned itself as a gateway for the strategic deployment of capital within these niche investment areas by aligning itself to co-invest with larger private equity firms from both coasts seeking to diversify their holdings and enter the aerospace sector.

About Cherokee Nation Businesses:

Cherokee Nation Businesses, L.L.C., is the economic engine of the Cherokee Nation, the nation's second largest Indian tribe. Cherokee Nation Businesses is based in Tulsa, Okla., and owns companies in the gaming, hospitality, personnel services, distribution, manufacturing, telecommunications and environmental services industries. These businesses have revenues of nearly $500 million every year and earn nearly $100 million in profits. Cherokee Nation Businesses’ aerospace company, Cherokee Nation Industries, has manufactured products for the Department of Defense, Boeing, L-3, Sikorsky, Lockheed Martin and many others. For more information on Cherokee Nation Businesses, please visit the CNB web site.