Monday, November 7, 2011
Kline Hawkes Sells Portfolio Firm Vermont Composites
Los Angeles-based investment firm Vicente Capital Partners said today that it has sold Vermont Composites, a manufacturer of composite aerostructures and advanced composite medical equipment, to Kaman Aerospace Group. Financial terms of the sale were not announced. Vermont Composites was part of Vicente Capital Partners' prior fund, Kline Hawkes Pacific LP. Vicente Capital said that the sale was a "great outocme" for the fund, representing a 5X return for the 2000-vintage fund. Vermont Composites was based in Bennington, Vermont, and is expecting sales of $32M for 2011.