NOVARIA GROUP SIGNS AGREEMENT TO ACQUIRE STROCO MANUFACTURING
Addition of close tolerance precision sheet metal and machined components, mounting solutions, and flat pattern products for aerospace and defense customers
Fort Worth, Texas – July 19, 2022 – Novaria Group, a leading manufacturer of specialty hardware for the aerospace and defense industries, announced today it has signed an agreement to acquire Stroco Manufacturing, Inc. Upon closing, the acquisition will be Novaria’s ninth since June 2020.
Founded in 1963, Stroco Manufacturing serves the defense and aerospace industries in both the military and commercial sectors. Its customers include Boeing, Lockheed Martin, Northrop Grumman, Bell Helicopter, and Gulfstream. Stroco specializes in an array of product offerings, including small precision sheet metal and machined parts and assemblies.
Stroco, based in Hazelwood, Missouri (St. Louis), will continue operations under leadership of Kris Welhart, the current owner. KAL Capital, which provides aerospace and defense M&A advisory services, represented Stroco on the transaction.
“We are delighted to add Stroco as Novaria further bolsters its product and service offerings, specifically in the defense market,” said Novaria CEO Bryan Perkins. “Stroco’s products are complementary to several of our business units and enable us to offer more complete packages to customers. They are a respected name and growth supplier in the industry, making this deal an ideal fit. I’ve also known Kris for over a decade, and we’re excited to add him to our experienced management team.”
“We take pride in exceptional delivery, quality products and excellent customer service,” Welhart said. “We know Novaria shares these values, and we are excited to enter into this partnership with an organization committed to maintaining these core values while at the same time providing the resources to begin the next phase of growth at Stroco.”
The transaction is expected to close this month, subject to the satisfaction of customary closing conditions. Specific terms of the acquisition have not been publicly disclosed.
About Novaria Group
Novaria Group is a privately held business focused on precision component companies that deliver optimum performance and sustainable growth with the aerospace and defense marketplace. For more information on Novaria’s business units, please visit www.novariagroup.com.