MUSCLE SHOALS, Alabama — AE Industrial Partners (AEI), a private equity firm specializing in aerospace, national security and industrial services, today announced that its affiliate Rocket Shoals LLC has acquired a sprawling industrial facility in Colbert County with plans to redevelop it as an “aerospace center of excellence.”
Boca, Raton, Florida-based AEI acquired the facility — known informally as the “Shoals” — from the Retirement Systems of Alabama. Located at 1200 Haley Drive in Cherokee, the facility is situated on 638 acres and contains 2.27 million square feet of industrial zoned manufacturing capacity.
Currently unoccupied, the LEED-registered building’s previous tenants include National Steel Car, Navistar, and FreightCar America.
AEI says the space is well suited for aerospace manufacturing and will become the new headquarters for select portfolio companies as well as other aerospace suppliers, manufacturers and innovators.
In addition, AEI will be partnering with Poarch Band of Creek Indians, a federally recognized tribe of Native Americans with reservation lands in South Alabama, to provide joint capabilities and bring innovative solutions to federal customers.
“AE Industrial is a highly focused investment firm, with a strategy to drive value creation at the nexus of the aerospace, space and defense markets — all sectors that are currently thriving in Alabama,” said David Rowe, co-CEO and managing partner at AE Industrial.
“We look forward to building an aerospace center of excellence in Muscle Shoals that benefits the community, the state of Alabama and our portfolio companies,” he added.
Kevin Jackson, president of Shoals Economic Development Authority, said his organization is excited to work alongside the Rocket Shoals team as it develops the aerospace hub.
“This transaction opens the doors to many new possibilities for The Shoals,” Jackson said. “We can’t wait to get started on this new endeavor opening up Northwest Alabama as an aerospace destination.”
AEI said the greater Muscle Shoals area, as well as the corridor that extends east to Huntsville, is home to a well-educated workforce and a growing cohort of aerospace industry engineers and technology professionals.
“We are proud to call Alabama home as we expand several of our marquee companies in the Shoals area,” said Chris Emerson, senior partner at AE Industrial.
“Our collective experiences with past projects, including Mercedes-Benz and the Airbus final assembly line in Mobile, give us confidence in our strong regional relationships and ability to engage with local partners to establish north Alabama as an ‘aerospace corridor’.”
ALABAMA AEROSPACE
Over 300 aerospace companies from more than 30 different countries have operations in Alabama, including industry giants such as Boeing, Lockheed Martin, GE Aviation and Raytheon, according to data from the Alabama Department of Commerce.
In Huntsville, Redstone Arsenal is a major research, engineering, and test center that houses the Army’s critical missile defense and aviation programs. The Arsenal is also home to the Marshall Space Flight Center, one of NASA’s largest and most historic facilities.
In addition, Airbus produces A320 Family and A220 passenger jets at its only U.S. manufacturing facility, located in Mobile, Alabama.
“Alabama’s aerospace sector is robust and ideally positioned for growth because of its many capabilities,” said Ellen McNair, Secretary of the Alabama Department of Commerce.
“I look forward to seeing how AEI’s plans for an aerospace hub in the Shoals area can contribute to the industry’s growth curve,” she added.
