NOVARIA GROUP ANNOUNCES ACQUISITION OF FITZ MANUFACTURING INDUSTRIES
Novaria plans expansion of Fitz’s capabilities while positioning itself for future growth
FORT WORTH, Texas – Jan. 25, 2012
Fort Worth-based Novaria Group announces today the acquisition of Fitz Manufacturing Industries, a supplier of precision aerospace components. Novaria will pursue strategic growth and expansion of Fitz’s capabilities while also delivering enduring value to customers, employees, and the aerospace industry. As part of the acquisition, Fitz Manufacturing will be renamed Fitz Aerospace.
“There is significant opportunity for Fitz to accelerate its growth plans by joining forces with Novaria,” said Earl Larkin, managing partner of Novaria Group. “The current Fitz management team, combined with our financial support, deep industry relationships, and strategic expertise, will better serve customers while preserving the culture and reputation for high quality that Fitz has built over the last 16 years.”
Fitz’s manufacturing capabilities are focused on three primary product categories: aerospace bushings, aerospace fasteners, and precision-machined components. These products are incorporated into most subsystems of both commercial and military airframe applications. The company also operates a metal finishing facility, allowing it to vertically integrate processes and more comprehensively serve its customers.
Fitz’s customers include many major tier 1 and tier 2 original equipment manufacturers (OEMs), and major distributors, including B/E Aerospace, Boeing, Bombardier, GE, Goodrich, Spirit, and Wesco.
Fitz will maintain its current 132,000-sq. ft. location in North Richland Hills, just miles north of Fort Worth, Texas. The company has approximately 150 employees and was founded in 1995.
Novaria Group plans business unit growth through acquisition
Novaria is currently pursuing additional growth opportunities, capitalizing on the expanding aerospace market by acquiring majority interests in small- to mid-market companies looking for a long-term oriented, well-aligned, financial and operational partner.
“Our goal is to create a group of precision-component companies that work synergistically to deliver superior solutions to customers, while enhancing operational efficiencies and delivering value,” said Bryan Perkins, managing partner of Novaria. “We have a long-term view of investing, with a key focus on sustainability and stakeholder balance.”
About Novaria Group
Operated by managing partners Bryan Perkins and Earl Larkin, Noavria Group’s goal is to operate a cohesive family of precision component companies that consistently delivers optimum performance and sustainable growth within the aerospace and defense marketplace. 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, please visit www.novariagroup.com