NOVARIA GROUP ACQUIRES SKY MANUFACTURING FROM MACLEAN-FOGG
Novaria acquires assets to further enhance capabilities in the aerospace fastener marketplace.
FORT WORTH, Texas – June 9, 2015
Fort Worth-based Novaria Group announces today the acquisition of substantially all the assets of Sky Manufacturing (formerly MacLean Sky), an industry-leading manufacturer of aircraft structural fasteners, from MacLean-Fogg Component Solutions. Novaria will continue the growth and expansion of Sky’s products by delivering enduring value to customers and employees. Novaria plans for the operation to continue doing business as Sky Manufacturing.
“Sky’s capabilities further enhance and diversify our position in the aerospace fastener market,” said Bryan Perkins, co-CEO and president of Novaria Group. “We developed a working partnership with MacLean- Fogg, and it quickly became apparent to us that Sky is an excellent fit with Novaria’s business model.”
Sky has been a dependable source for high-strength, close tolerance, fatigue-rated fasteners and has successfully served the global commercial aerospace and military markets. Sky’s certified aerospace products include 12-point spline bolts, 12-point double-hex bolts, hex head bolts, flush head bolts, and internal drive bolts using high-strength alloys such as Inconel®, stainless steel, and titanium.
Sky’s products will serve as a complementary addition to Novaria’s growing operating units. Earl Larkin, Novaria executive vice chairman and co-CEO stated, “Sky will operate within Novaria’s Class-C Hardware Platform, led by Monty Gillespie, Novaria’s Class-C Hardware president. This acquisition provides a variety of near-term and long-term opportunities with several of our growing businesses.”
Dave Lomasney, president, fastener components for MacLean-Fogg Component Solutions commented on the transaction, “We believe this is the right strategic move for Sky and that Novaria’s reputation and approach to the aerospace market will support the next phases of Sky’s growth and customer approvals.”
Sky operates in a total of 20,000 sq. ft. in Commerce, California. The company has approximately 50 employees and was founded in 1997. Gillespie commented on the plan for operations, saying, “We will immediately assess the opportunities for continued expansion and optimization of the business. As with our current operations, we will take a deliberate approach to improving performance to exceed customer expectations.”
About Novaria Group
Novaria Group is the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors. Operated by CEOs Bryan Perkins and Earl Larkin, the company operates a cohesive family of precision component companies that consistently delivers optimum performance and sustainable growth within the aerospace and defense marketplace. Current holdings include Fitz Aerospace (www.fitzaero.com), Weatherford Aerospace (www.weatherfordaerospace.com), John Hassall (www.hassall.com), and Sky Manufacturing (www.skyaeroproducts.com). With deep industry knowledge, demonstrated integrity and an abiding regard for human capital, Novaria provides its partner companies with unmatched access to unique innovations and best practices. For more information about Novaria Group, visit www.novariagroup.com.
About MacLean-Fogg Component Solutions
MacLean-Fogg Component Solutions, a division of the MacLean-Fogg Company, is a leading supplier of fasteners, engineered components, engineered plastics and suspension products serving many diverse industries. MacLean-Fogg Company is a worldwide enterprise with 35 global manufacturing facilities, annual sales of $1 billion, and a worldwide workforce of more than 3,500 people. MacLean-Fogg Company provides engineered metal and plastic components to the industrial, automotive, military and aerospace markets, and unique devices used in the transmission and distribution of electrical power. For more information about MacLean-Fogg Component Solutions, visit www.macleanfoggcs.com.
About Rosewood Private Investments
Rosewood Private Investments is the private equity arm of The Rosewood Corporation, a family-backed yet institutional firm with diverse worldwide operations and investments. Rosewood is wholly owned by the Caroline Hunt Trust Estate, which was established in 1935 by H.L. Hunt and built upon over generations by developing and acquiring businesses that are leaders in their respective industries. As an evergreen entity, Rosewood is continually seeking to invest capital in companies that share our commitment to entrepreneurism, integrity, and sound business principles. For more information about Rosewood Private Investments, visit www.rosewoodpi.com.
About Tailwind Advisors
Tailwind Advisors is an investment firm for families of significant wealth, offering sophisticated, independent wealth management services. For more information about Tailwind Advisors, visit www.tailwindadvisors.com.
Contact: Allyson Cross
GCG Marketing for Novaria Group
817.332.4600 x. 206 (office)