Mecadaq Group, an Activa Capital portfolio company, is buying Hirschler Manufacturing Inc. Financial terms weren’t announced. Hirschler, of Kirkland, Washington, produces high-precision mechanical parts made from hard metals such as titanium, stainless steel, and inconel.
Mecadaq Group, a leading provider of high precision manufacturing for the aerospace industry, has announced the acquisition of Hirschler Manufacturing Inc., a US based company specialised in hard metal machining. The acquisition is another step in Mecadaq’s consolidation strategy, reinforcing the subcontracting chain in the aerospace supply.
Based near Seattle, Washington, USA, with €9m in turnover, Hirschler Manufacturing Inc. produces high-precision mechanical parts made from hard metals such as titanium, stainless steel, and inconel. The company has been a strategic supplier for more than 50 years to large clients in aerospace such as Spirit AeroSystems, Mitsubishi Heavy Industries, or Boeing, which has given the company the “supplier silver award “.
By joining the Mecadaq Group, Hirschler Manufacturing brings its customer portfolio, a recognised know-how in producing critical, complex parts, and quality of service. The company is committed to integrating Mecadaq’s production activities located in California.
This is the third external growth operation in less than 24 months for the Mecadaq Group, bringing its consolidated revenue to nearly €60m and staff to 300 employees.
“It is quite an accomplishment for our company with the opportunity to accelerate our growth in North America and also to work directly with “The Boeing Company” as a Tier 1 supplier of detail parts,” said Julien Dubecq, President of Mecadaq Group. “This marks also a major step for Mecadaq, celebrating 10 years anniversary since the first US branch opening.”
“This transaction will allow our Group to reach in just two and a half years the level of turnover we had expected in five years,” added Benjamin Moreau, Partner of Activa Capital. “In addition to this lead over our original business plan, this external growth transaction reinforces Mecadaq’s leadership position by giving us the potential for new organic growth outside of France.”