Fort Worth-based Novaria Group has purchased the assets of Weatherford Aerospace Inc., an aerospace supplier, for an undisclosed amount. Novaria, the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors, plans to expand Weatherford’s manufacturing capabilities, which are focused on a variety of processes and products used in most airframes flying today. The company’s customers include many major original equipment manufacturers and tier 1 and tier 2 supply chain partners such as Gulfstream, Boeing, Bell Helicopter, Bombardier, Lockheed Martin, Spirit and Triumph. Charles Paris Sr., founder of Weatherford, will become a consultant to the company. Charles “Chip” Paris Jr., the current president and general manager of Weatherford, will continue in his present capacity under Novaria’s ownership. Weatherford will continue operations in a total of 165,000 square feet at its two manufacturing facilities, both of which are located in Weatherford. Founded in 1973, the company has 165 employees.
“The acquisition of Weatherford is a great step that Novaria has taken in pursuing a second aerospace manufacturing platform,” said Earl Larkin, co-CEO and executive vice chairman of Novaria. “We have taken a long-term approach to investing, and our partnership with Rosewood Private Investments and Tailwind Adivsors has provided the fuel for takeoff.” Rosewood Private Investments is the private equity arm of The Rosewood Corporation, 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