Monument Capital Partners Advises Cornerstone Research Group on the Sale of its MG Resin Technology to Karman Space & Defense

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Date: June 15, 2022

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Monument Capital Partners Advises Cornerstone Research Group on the Sale of its MG Resin Technology to Karman Space & Defense

Karman Space & Defense Acquires MG Resin Technology

Karman Space & Defense (“Karman” or the “Company”) backed by Dallas-based private equity firm Trive Capital (“Trive”), has partnered with Cornerstone Research Group, Inc. (“CRG”) to acquire the MG Resin family of technologies. The acquisition of MG Resins represents a significant expansion of Karman’s core competencies in integrated composite systems for space & defense applications and creates a leading manufacturer in the carbon/carbon market.The senior leadership team at CRG developed the patented MG family of resins to address the growing need for ultra-high temperature materials with higher char yields, improved processability, and reduced cycle times. CRG designed an innovative solution that will enable the production of best-in-class, high strength carbon-carbon parts at temperatures above 1200 °C.“We are excited to partner with Karman and believe that their set of differentiated capabilities, capacity and talented team makes them the right strategic partner to deliver the MG Resin value proposition to customers across the space, missile, defense and hypersonic supply chains. We believe that joining forces with Karman will accelerate the commercialization of carbon-carbon technologies and look forward to creating value for customers,” commented Patrick Hood, Chief Executive Officer of CRG.

“This is a big milestone for Karman,” said Tony Koblinksi, Chief Executive Officer of Karman. “CRG’s MG Resin systems will allow Karman to offer highly differentiated high-temp materials solutions to our customer base. The MG Resin carbon-carbon technology, along with other CRG-developed resin systems, will serve as the launch point for Karman’s broader move into advanced material sciences.”

“With this acquisition, Karman can now offer vertically integrated composite systems. We believe that adding leading up-front material science capabilities to our existing design, engineering and manufacturing competencies will further Karman’s mission to provide a single point of accountability, reduced lead times and higher quality to OEMs” commented David Stinnett, Partner at Trive Capital.

Monument Capital Partners advised Cornerstone Research Group. Haynes & Boone LLP served as legal counsel to Trive Capital.

About Karman

Karman Space & Defense is an integrated concept-to-production solutions provider for the space and defense industry’s most complex and mission-critical projects. Through its four divisions the company provides solutions for integrated dynamic systems, assemblies, and advanced manufacturing that are used in our industry’s most critical programs, including crewed-space flight and hypersonic missions. Headquartered in Huntington Beach, CA, with facilities in Washington, Alabama, and Washington DC, Karman brings together industry-leading capabilities, advanced technologies, and the multi-decade history of its four business divisions, AAE Aerospace, AEC, AMRO, and Systima.

About CRG

CRG is a high-technology company delivering products and services to aerospace, defense and industrial customers since 1997. Our multidisciplinary teams redefine what is possible to deliver innovative solutions with the support of a network of hundreds of leading technology providers. As result, CRG is a recognized fast-growing leader in innovation and technology commercialization, making the Inc. 5000 for the 7th time in 2020. Our technology portfolio covers a broad range with primary emphasis in aerosystems, power and energy, medical and sensors technology, materials science, and advanced manufacturing.

About Trive

Trive Capital is a Dallas, Texas based private equity firm with more than $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

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