Fort Worth-based Novaria Group said March 22 it had acquired the assets of Ferco Tech, L&E Engineering and GGF Manufacturing. The three business units, collectively operating as Ferco Aerospace, supply the world’s largest aircraft engine manufacturers with high-strength and temperature-resistant brackets, tube assemblies and other exotic metal fabrications.
A privately held business, Ferco Aerospace and its three operating units have operations dating back to 1953. The businesses bring additional combined manufacturing space of more than 120,000 square feet and 225 employees. Ferco Tech, L&E Engineering and GGF Manufacturing will continue manufacturing operations in Dayton, Ohio; Indianapolis, Indiana; and Jamestown, Ky., respectively.
“For decades, these businesses have provided aerospace engine customers with consistently safe and reliable products. We look forward to their continued support of current and next-generation aircraft for years to come,” said Bryan Perkins, co-CEO and president of Novaria Group.
These acquisitions are complementary to Novaria’s growing portfolio. Earl Larkin, Novaria executive vice chairman and co-CEO, said the acquisitions will allow Novaria Group to establish a third platform that focuses on higher-level assemblies and products requiring welding and unique fabrication.
Novaria Component Solutions (NCS) will serve as a key platform that furthers business unit interaction and market diversification. Mike Wagner, Novaria Group vice president of operations, will serve as the interim president of NCS.
Brady Ware Capital LLC served as financial adviser to Ferco in the transaction.
Founded in 2011, Novaria Group is a privately held corporation, focused on the supply of products to the aerospace and defense industries. Current operating platforms include Novaria Fastening Systems, Novaria Surfaces & Structures and Novaria Component Solutions. Business units include Fitz Aerospace; Weatherford Aerospace; John Hassall; V&M Aerospace; Ferco Tech; L&E Engineering; GGF Manufacturing; and Sky Manufacturing.