Avantus Aerospace, which is backed by Inflexion and Auctus Industries, has acquired California Screw Products, a maker of high-strength fasteners for commercial and military aerospace applications. No financial terms were disclosed.
SANTA CLARITA, Calif., Oct. 6, 2020 /PRNewswire/ — Avantus Aerospace, a global leader of C-Class and Composite parts for the aerospace and defense industry, is pleased to announce the acquisition of California Screw Products (“CalScrew”) in Paramount, California.
CalScrew manufactures unique, high-strength fasteners for commercial and military aerospace applications and has a natural fit with other companies within in the Avantus group, including FTC (Fastener Technology Corp), acquired in December 2019, and FIT (Fastener Innovation Technology), acquired in September 2020.
CalScrew, founded in 1984, has built a strong reputation as an innovative and reliable supplier of difficult-to-manufacture ‘standards’ serving more than 45 aircraft platforms. Some customer relationships span multiple decades, such as those with Boeing (including BDSI), Incora (Wesco), Honeywell, Collins, Pratt & Whitney, GE, Airbus and Lockheed Martin. The existing management teams will continue to operate and grow the business under the guidance of Fastener President Dennis Suedkamp, and Director of Business Development Larry Valeriano. Larry was formerly the President of CalScrew.
Avantus CEO Brian Williams said: “The CalScrew team is known for taking care of their customers and we are excited about dovetailing their unique fasteners into our expanding product line-up. Our combined strength allows Avantus to continue offering a diverse range of high-quality products with exceptional customer service.”
Larry Valeriano commented: “California Screw Products is a well-known brand in the fastener standards market, and looks forward to joining FIT and FTC as another integral company in the Avantus fastener and C-Class portfolio.” Dennis Suedkamp added, “The future appears very bright as Avantus focuses on sound companies that respect their employees and what they bring to our customers – technical soundness, innovation, high quality and world class service.”
Avantus Aerospace is owned by Inflexion and Auctus Industries. Inflexion is a leading 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, focusing on off-market deal sourcing and the execution of buy-and-build acquisition strategies.
The purchasers were advised by Goodwin Proctor LLP (Santa Monica), CDS (San Francisco), KPMG (London/Chicago) and Grant Thornton (Irvine).