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Avantus Divests Composites Business to Focus on Expansion into C-Class Components
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2021-11-16
Avantus Aerospace continues its transformation into a 'pure-play' C-Class parts manufacturer, having recently completed the divestiture of its non-core composites business line. Two U.S.-based structural composites companies – Performance Plastics (San Diego, CA) and Angeles Composite Technologies (Port Angeles, WA), were sold to JW Hill Capital, a Scottsdale, Arizona-based private equity firm. SDM Composites (Hermosillo, Mexico) was sold to Groupe Latécoère, headquartered in Toulouse, France. The Avantus Group has facilities in the U.S. and Europe and provides shims, detailed parts, specialty fasteners, precision machining, and elastomer gaskets to the aerospace and semiconductor industries.
Brian Williams, CEO of Avantus, said: "As we position ourselves for the ramp-up in aerospace production, Avantus is focused on growing our core businesses and capabilities. We're certain that the new homes for our composites companies will likewise give them exceptional focus for growth and expansion."
Avantus acquired three specialty fastener companies over the last 22 months (including two during the pandemic) – Fastener Technology Corporation, California Screw Products, and Fastener Innovation Technology – and will continue to expand its range of C-Class components, both organically and via further acquisitions. With tremendous emphasis on operational excellence and customer service, the acquired accompanies have already achieved industry-leading performance in terms of quality, lead-times, on-time delivery, and customer responsiveness.
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2021-11-16
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