Fastener Distribution Holdings, a portfolio company of Audax Private Equity, has acquired Blue Sky Industries, a distributor of c-class parts to aerospace and defense MRO and OEM customers.
The aerospace and defense c-class parts market includes low cost and high volume commodity parts that are classified into four areas: fasteners, bearings, electronic components and machined parts. C-class parts are small in size and have low cost, but are one of the most critical components used in an aircraft. They are situated across the aircraft including fuselage, wings, landing gear fittings, control surfaces, flight control actuating systems, and air-intake areas near the engine.
Audax Private Equity acquired Fastener Distribution Holdings (FDH) from Housatonic Partners in April 2017 and the buy of Blue Sky is the first add-on acquisition completed under Audax ownership.
“We are excited to join Scott and the FDH team as we continue to grow our combined business,” said Fred Yue, the founder of Blue Sky. “We remain committed to serving our customers with the same level of quality and service that they have received over the last 25+ years.” Blue Sky Industries is headquartered near Los Angeles in Monterey Park, CA (www.blueskyindustries.com).
FDH is a distributor of aerospace fasteners and other C-class components to commercial and defense aircraft manufacturers, subcontractors, and component distributors through two divisions: Arlington International Aviation Products (www.aiapinc.com) and Aircraft Fasteners International (www.aircraftfast.com). FDH is led by CEO Scott Tucker and has facilities in Arlington, TX and Marina Del Rey, CA.
According to FDH, the buy of Blue Sky strengthens the company’s position in the MRO distribution market and expands its operating footprint into Europe. “Blue Sky is a well-respected leader in aerospace parts distribution with an excellent reputation and leadership team,” said Mr. Tucker. “The acquisition is a perfect example of our ongoing strategy to complement organic growth with strategic acquisitions of industry-leading companies.”
Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston, New York and Menlo Park (www.audaxgroup.com).
© 2018 Private Equity Professional | April 23, 2018