AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced today that Kevin G. McAllister, former President and CEO of Boeing Commercial Airplanes, has joined the firm as a Senior Operating Partner, effective immediately.
Mr. McAllister will also serve as co-head of the newly formed AE Industrial Portfolio Strategy and Optimization Group (PSO Group). Paul McElhinney, an AEI Operating Partner, has been promoted to co-head of the AEI PSO Group and Senior Operating Partner.
To assist in maximizing the value of all AEI portfolio companies, the AEI PSO Group will serve as a resource to each company to help strengthen their strategic planning processes, leverage the firm’s industry relationships to accelerate growth, improve quality and productivity, and foster a strong culture of safety, performance, learning, and people development.
“Having an industry leader of Kevin’s caliber join AE Industrial is not only an honor, but it’s also a sign that the firm is recognized as one of the leading investors in aerospace and defense,” said David Rowe, Managing Partner, AEI. “We are confident that Kevin’s insights and unparalleled aviation expertise will be a tremendous asset to all of our portfolio companies as they look to improve operations and realize untapped potential. We welcome him to our leadership team.”
“The formation of the PSO group is a natural evolution for the AEI platform given the size of our industrial portfolio and the firm’s value-added approach building businesses to scale,” added Michael Greene, Managing Partner, AEI.
“Over the past two decades, AE Industrial has built a stellar reputation as a smart investor that understands the intricacies of deeply technical industries such as aerospace and defense,” said Mr. McAllister. “Joining AEI is a perfect opportunity for me and I am excited to partner with Paul, the AEI team, and the companies’ management to unlock greater value in the portfolio.”
Mr. McAllister served as President and CEO of Boeing Commercial Airplanes from 2016 through October 2019. Prior to joining Boeing, he spent 27 years with GE Aviation, where he most recently served as President and CEO of GE Aviation Services. Mr. McAllister was previously Vice President and General Manager of Global Sales and Marketing at GE Aviation, where he was responsible for delivering record backlog growth for the business. He holds a bachelor’s degree in materials engineering from University of Pittsburgh.
Mr. McElhinney joined AEI in 2018 following a more than 30-year career in senior leadership at General Electric. He most recently served as President and CEO of both GE Power Services, a $15 billion power generation aftermarket business, and GE Aviation Services, the global aftermarket division of GE Aviation where he was responsible for more than doubling the backlog of the business to over $100 billion. Mr. McElhinney holds an Honors Degree in Law from Trinity College in Dublin, Ireland.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. Learn more at www.aeroequity.com.
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