Press Release

Mesirow Advises KIHM Metal Technologies on its Sale to Turnout Industries

  • KIHM Metal Technologies is a leading provider of exotic alloy-based, mission-critical components for the commercial aerospace, defense, power generation and space end markets
  • Successful transaction highlights Mesirow’s expertise in the aerospace and defense industry, as well as in the high precision metal fabrication sector

CHICAGO, November 14, 2022 – Mesirow, an independent, employee-owned financial services firm, has announced it acted as the exclusive financial advisor to KIHM Metal Technologies (“KIHM” or “The Company”), a leading provider of fabricated metal components and a portfolio company of The Firefly Group, to Turnout Industries (“Turnout”). Based in Brazil, IN, KIHM engineers and manufactures exotic alloy-based components utilizing highly specialized metal spinning, hydro forming and complex machining processes, and serves the commercial aerospace, defense, power generation and space end markets.

Adam Oakley, Managing Director of Mesirow Investment Banking, said, “We were honored to work with KIHM and Turnout on this exciting transaction. KIHM is an established leader in specialty metal fabrication for mission critical applications and this transaction will allow them to further innovate and deepen their relationships in the aerospace and defense industry.”

“Mesirow provided critical guidance throughout this transaction and utilized their extensive A&D sector knowledge to effectively position the Company’s capabilities and exceptional customer base to identify the right partner to drive KIHM’s continued growth,” said Bryan Davis, President of KIHM Metal Technologies.

“The Mesirow team was outstanding in helping us find the right buyer for KIHM based on our defined criteria.  They lead an effective process and were great to work with overall.  We are optimistic about the outcome for everyone involved at KIHM.  said Derrick Smith, Co-Founder and Partner of The Firefly Group.

The sale of KIHM Metal Technologies to Turnout Industries represents another successful assignment completed by Mesirow Investment Banking and highlights the firm’s expertise within the aerospace and defense sector. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep long-standing relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of clients.

About Mesirow 

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Global Investment Management, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities, and our culture. To learn more, visit and follow us on LinkedIn.

Mesirow was recently named one of the Best Places to Work in Chicago by Crain’s Chicago Business and one of the Top 100 RIA firms by Barron’s.

About KIHM Metal Technologies

KIHM is a leader in metal spinning, hydro forming, and complex machining of exotic alloy-based components for the aerospace, defense, and power generation markets. Learn more:

About The Firefly Group

The Firefly Group is an Indianapolis-based private equity firm focused on investing in growth-oriented, lower-middle market U.S. companies with at least $1 million of EBITDA. Learn more:

About Turnout Industries

Turnout Industries is a Chicago-based diversified holding company focused on acquiring companies with $5-50 million of revenue and at least $1 million of EBITDA. Learn more:

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