AE Industrial acquires Former FreightCar plant

BARTON - AE Industrial Partners has acquired the former FreightCar America plant through its affiliate Rocket Shoals LLC, the company announced Tuesday.

AEI is a Boca Raton, Florida-based private equipment firm that specializes in aerospace, national security and industrial services.

The former FreightCar plant in the Barton Riverfront Industrial Park has been idle for three years after FreightCar moved the operations to Mexico.

“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 The Shoals that benefits the community, the state of Alabama and our portfolio companies.”

AEI acquired the plant from the Retirement Systems of Alabama.

“We are so excited to work alongside the talented team at Rocket Shoals,” said Kevin Jackson, President, Shoals EDA. “This transaction opens the doors to many new possibilities for The Shoals. We can’t wait to get started on this new endeavor opening up Northwest Alabama as an aerospace destination.”

AE Industrial Partners is a private investment firm with $5.4 billion of assets under management focused on highly specialized markets including aerospace, national security, and industrial services.