NOVARIA GROUP ANNOUNCES ACQUISITION OF JOHN HASSALL
Novaria acquires assets of storied manufacturer of aircraft and industrial fasteners, continues operations in Long Island, N.Y.
FORT WORTH, Texas – Jan. 20, 2015
Fort Worth-based Novaria Group announces today the acquisition of substantially all the assets of John Hassall, Inc. (“John Hassall”), a provider of aircraft engine fasteners, bolts, blade locks and other flight critical hardware, located in Long Island, N.Y. The company also manufactures a diverse set of products for use in select automotive and industrial applications. The company holds a variety of key customer quality approvals as well as current AS9100C and Nadcap certifications.
Novaria has established a new entity, John Hassall, LLC, which operates substantially all of the assets of John Hassall, Inc., services existing and legacy customers and will continue doing business as John Hassall. Novaria is taking immediate steps to improve operations and expand the capabilities of the business.
John Hassall specializes in the cold heading, hot forming, thread rolling, heat treatment, and metallurgical testing of complex and specialty fasteners used in the hot section of aircraft engines. The company’s roots date back to 1850 when it obtained the first U. S. patent for an automated fastener manufacturing machine, currently housed in the Smithsonian museum.
“John Hassall has unique capabilities that require a depth of knowledge and experience in order to service aerospace engine customers as well as their industrial markets,” said Bryan Perkins, co-CEO and president of Novaria Group. “We have no doubt that their current capabilities coupled with Novaria’s existing operating units, financial resources and deliberate approach to operational excellence will produce success.”
Novaria Group has acquired other manufacturing subsidiaries and views the assets of John Hassall as a complementary addition to its operating units. Earl Larkin, executive vice chairman and co-CEO stated, “John Hassall, LLC will operate within Novaria’s Class-C Hardware Platform, led by Monty Gillespie, Novaria’s Class C Hardware president. We have been very pleased with our decision to expand and complement Novaria’s current
subsidiaries with John Hassall, as it will provide new opportunities to service and support Novaria’s customer base.”
Novaria will continue John Hassall operations in its current 65,000-square-foot manufacturing facility in Westbury, N.Y., at 609-1 Cantiague Rock Road. Gillespie commented on the immediate plan for facility operations and employees, saying, “It is our immediate priority to use what we believe is a very solid foundation of engineering, product knowledge and core capabilities to further leverage operational improvements and efficiencies that enable us to operate successfully in the current facility. We believe there are opportunities to work with the platform’s customers, suppliers and employees to remain a competitive force in our markets.”
About Novaria Group
Novaria Group is the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors. Founded and operated by CEOs Bryan Perkins and Earl Larkin, the company’s goal is to operate a cohesive family of precision component subsidiaries 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) and John Hassall (www.hassall.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, please visit www.novariagroup.com..
Contact: Allyson Cross
GCG Marketing for Novaria Group
817.332.4600 x. 206 (office)