Kissel Capital, a Zionsville-based private equity firm, announced its latest investment in Engine Seals, as part of a management buyout investment in the industrial services sector.
Engine Seals, a combination of Quality Honeycomb based in Arlington, TX and Carolina Metals based in Asheville, NC, designs and manufactures high-temperature abradable seals for jet aircraft engines and power generation gas turbines, along with honeycomb structures for the defense and communications industries.
This strategic combination creates a stronger, more integrated platform with enhanced manufacturing capabilities, expanded product offerings, and greater capacity to serve critical aerospace, defense, and energy customers. The transaction positions Engine Seals for accelerated growth, continued innovation in high-performance sealing solutions, and sustained leadership in demanding high-temperature applications.
David Wagner will become the CEO of the combined companies. Engine Seals was previously owned by Wagner Industries, a family holding company founded by David's father, Alan Wagner. Wagner Industries was committed to finding an experienced partner to support and retain the company's talented management teams and employees, ensuring Engine Seals would continue to serve customers with the highest possible standards.
“We are thrilled about the new partnership with management and strategic co-investors, and we look forward to an exciting future together,” said Luke Phenicie, Founder of Kissel Capital.
The investment aligns with Kissel Capital's exclusive focus on management-led buyouts in the industrial and services sectors where our expertise and investor network are ideally suited to deliver the best outcomes.
David Wagner, incoming CEO of Engine Seals, added: “Partnering with Kissel Capital represents a significant milestone for our team and our business. Their deep understanding of industrial services and commitment to management-led growth will enable us to build on our strong foundation, invest in our people and capabilities, and deliver even greater value to our customers in the aerospace and power generation markets.”
Kissel Capital's Buy, Build & Hold strategy emphasizes long-term partnerships that empower management teams to drive operational excellence and strategic expansion while maintaining the company's core values of integrity and quality.
For more information about Kissel Capital, visit www.kisselcapital.com.
About Kissel Capital
Kissel Capital is a private equity firm based in Zionsville, Indiana. Founded in 2022, the firm focuses exclusively on management led buyouts in the industrial and services sectors, partnering with strong management teams to support growth, operational improvement, and long-term success. Kissel Capital invests its own capital alongside a network of aligned co investors who share its guiding principles.
About Engine Seals
Engine Seals, formed through the combination of Quality Honeycomb and Carolina Metals, specializes in the design and manufacture of high-temperature abradable seals and honeycomb structures for aerospace, defense, power generation, and communications applications. With facilities in Texas and North Carolina, the company is committed to delivering precision-engineered solutions that meet the rigorous demands of its global customers.
Media Contact:
Email: info@kisselcapital.com
