Concord, Ontario-based CFN Precision Ltd., a manufacturer of precision machined components, kits and assemblies for landing gear and aircraft structures, was recently acquired for an undisclosed sum by SPP Canada Aircraft Inc. (SPPCA). Located in Mississauga, SPPCA designs and produces landing gear systems for regional and business aircraft. CFN Precision was a portfolio company of Canadian venture capital firm GrowthWorks.
SPP Canada Aircraft, Inc. Acquires CFN Precision Ltd.
Toronto, ON – SPP Canada Aircraft, Inc (“SPPCA”), a global leader in the design,development, manufacture and support of aircraft landing gear systems, announced today that it has completed its acquisition of CFN Precision Ltd. (“CFN”), an Ontario-based company in the aerospace industry. This announcement comes on the heels of SPP’s Canadian operations launch in March 2013.
This union strengthens SPPCA’s ability to provide improved service and flexibility to its customers in North America, and it will permit CFN to grow and continue to add low risk and high value offerings to all of its customers.
“The acquisition of CFN further strengthens our position to pursue continuous growth of our business and become a world leading aircraft products and systems supplier,” said SPPCA’s President Shinichi Nakamura. “CFN and SPPCA will leverage each other’s capabilities to develop an expanded suite of products and services to our current and prospective North American aerospace customers.”
CFN’s CEO, Eli Brigler, added: “CFN is very pleased in joining forces with SPPCA as both companies have demonstrated an outstanding track record of success in aerospace over the years. I strongly believe that our synergies will enable us to expand our manufacturing and sub assembly capabilities while strengthening our low risk and Competitive Value Solutions. This in turn will benefit our existing and new customers.”
SPPCA has a state-of-the-art facility in Mississauga, Ontario, for the final assembly and integration of landing gear and landing gear systems for commercial aircraft. This partnership with CFN will enhance both companies’ capabilities and offer innovative solutions to all of its customers. SPPCA will continue to offer landing gear system support to airframers such as, Gulfstream, Honda and Mitsubishi and Tier 1 integrators, while CFN will continue to supply high value components and assemblies to customers such as UTAS, Messier-Bugatti-Dowty, Heroux-Devtek, Asco Industries and others.
About SPP Canada Aircraft, Inc.
SPP Canada Aircraft, Inc. (SPPCA) was established in April 2012 and is a wholly owned subsidiary of Sumitomo Precision Products. Headquartered in Mississauga, SPPCA designs, produces new and innovative solutions as well as supports landing gear systems for regional and business aircraft. More information about SPPCA is available at www.spp-ca.com.
About CFN Precision Ltd.
CFN Precision is a trusted world class Aerospace manufacturer specializing in complex precision machined components, kits and assemblies for landing gear and aircraft structures. CFN is recognized by its customers as a very dependable, low risk supplier thanks to its strong professional team, consistent performance in quality and customer service. More information about CFN is available at www.cfn-inc.com.
For further information, contact:
SPP Canada Aircraft, Inc.
Tel: 416 821 9339
SPP Canada Aircraft, Inc.
Tel: 905 819 6154
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