Fort Worth-based Novaria Group said June 9 it has acquired all the assets of Sky Manufacturing (formerly MacLean Sky), a global manufacturer of aircraft structural fasteners, from MacLean-Fogg Component Solutions for an undisclosed amount.
Novaria, the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors, plans for the operation to continue doing business as Sky Manufacturing.
“Sky’s capabilities further enhance and diversify our position in the aerospace fastener market,” said Bryan Perkins, co-CEO and president of Novaria Group. “We developed a working partnership with MacLean-Fogg, and it quickly became apparent to us that Sky is an excellent fit with Novaria’s business model.”
Headquartered in Commerce, Calif., Sky was founded in 1997 and employs about 50 people. The company’s certified aerospace products include 12-point spline bolts, 12-point double-hex bolts, hex head bolts, flush head bolts, and internal drive bolts using high-strength alloys such as Inconel, stainless steel, and titanium. Sky’s products will serve as a complementary addition to Novaria’s growing portfolio.
“We believe this is the right strategic move for Sky and that Novaria’s reputation and approach to the aerospace market will support the next phases of Sky’s growth and customer approvals,” said
Dave Lomasney, president, fastener components for MacLean-Fogg Component Solutions.
MacLean-Fogg Component Solutions, a division of the MacLean-Fogg Co., is a supplier of fasteners, engineered components, engineered plastics and suspension products serving many diverse industries. MacLean-Fogg Co. is a worldwide enterprise with 35 global manufacturing facilities, annual sales of $1 billion, and a worldwide workforce of more than 3,500 people. The company provides engineered metal and plastic components to the industrial, automotive, military and aerospace markets, and devices used in the transmission and distribution of electrical power.
Rosewood Private Investments is the private equity arm of The Rosewood Corp., which is wholly owned by the Caroline Hunt Trust Estate.
Tailwind Advisors is an independent wealth management firm serving ultra-high net worth families.
Betty Dillard
bdillard@bizpress.net