US-based aerospace company Shimtech Industries has announced the acquisition of California-based Fastener Technology Corp. (FTC), a specialty fasteners supplier for commercial and military aerospace applications, the company said.
The sellers were advised by The McLean Group, a boutique investment bank with a leading aerospace, defense and government practice. The purchasers were advised by Drinker Biddle and Reath (Chicago), CDS (San Francisco), KPMG (London/Chicago) and Grant Thornton (Irvine).
Shimtech is owned by Inflexion Private Equity and Auctus Industries. Its aerospace divisions include four manufacturing facilities in the US, three in Europe and one in Mexico. Their C-Class Components Division specializes in the manufacture of high-volume metallic and composite detailed components which are complementary with FTC´s fastener products.
Inflexion is a European mid-market private equity firm, investing in high growth, entrepreneurial businesses with ambitious management teams and working in partnership with them to accelerate growth.
Auctus Industries is a specialist investor in aerospace businesses.