AE Industrial Partners, an aerospace, defense and industrial services private equity firm based in Boca Raton, Fla., and its affiliate Rockett Shoals, plans to reinvent the Colbert County location as an “aerospace industry.” , purchased the former National Steel Car site. Core research center. “

The 2.27 million square foot, 638-acre facility is well-suited for aerospace manufacturing, according to AE Co-CEO. david lowe.

“We look forward to building an aerospace center of excellence in the Shoals that will benefit the local community, the state of Alabama, and the companies in which we invest,” Lowe said.

“AE Industrial is a highly focused investment firm with a strategy to drive value creation at the nexus of Alabama's currently growing aerospace, space and defense markets.”

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president kevin jackson Shoals Economic Development Authorityoffered an optimistic perspective on what the move could mean for Muscle Shoals' economy.

“I am very excited to work with the talented team at Rocket Shoals. This transaction opens the door to many new possibilities for The Shoals. I can't wait to get started on this new endeavor as a land developer,” Jackson said.

chris emersonA senior partner at AE Industrial spoke about the fact that Alabama is a destination for aerospace engineering.

“As some of the leading companies expand in the Shoals area, we are proud to call Alabama home. “Our collective experience gives us confidence in our strong regional relationships and ability to work with local partners to establish northern Alabama as an 'aerospace corridor,'” Emerson said.

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More than 300 aerospace companies from more than 30 countries operate in Alabama, including industry giants such as Boeing, Lockheed Martin, GE Aviation and Raytheon, according to data from the Alabama Department of Commerce.

“Alabama's aerospace sector is strong and its many capabilities make it ideally positioned for growth,” said Alabama Department of Commerce Secretary Ellen McNair.

“We look forward to seeing how AEI’s plans for an aerospace hub in the Shoals region can contribute to the industry’s growth curve,” she added.