Novaria Group has acquired the assets of Sky Manufacturing (formerly MacLean Sky), a manufacturer of aircraft structural fasteners, from MacLean-Fogg Component Solutions.
“Sky’s capabilities further enhance and diversify our position in the aerospace fastener market,” said Bryan Perkins, co-CEO and president of Novaria Group. “We developed a working partnership with MacLean-Fogg, and it quickly became apparent to us that Sky is an excellent fit with Novaria’s business model.”
Sky is a provider of high-strength, close tolerance, fatigue-rated fasteners and serves the global commercial aerospace and military markets. The company’s certified aerospace products include 12-point spline bolts, 12-point double-hex bolts, hex head bolts, flush head bolts, and internal drive bolts using high-strength alloys such as stainless steel and titanium. Sky operates in a 20,000 sq. ft. facility in Commerce, CA. The company has approximately 50 employees and was founded in 1997 (www.skyaeroproducts.com).
MacLean-Fogg Component Solutions, a division of MacLean-Fogg, is a supplier of fasteners, engineered components, engineered plastics and suspension products to a range of industries (www.macleanfoggcs.com). MacLean-Fogg provides engineered metal and plastic components to the industrial, automotive, military and aerospace markets, and devices used in the transmission and distribution of electrical power. The company was founded in 1925 and has 35 manufacturing facilities, annual sales of $1 billion, and a workforce of more than 3,500 people. The company is headquartered in the Chicago suburb of Mundelein (www.macleanfogg.com).
Novaria Group is the aerospace investment platform of Rosewood Private Investments and Tailwind Advisors. Operated by CEOs Bryan Perkins and Earl Larkin, the company operates and invests in the aerospace and defense marketplace. Novaria Group is headquartered in Fort Worth, TX (www.novariagroup.com).
Rosewood Private Investments is the private equity arm of The Rosewood Corporation which is wholly owned by the Caroline Hunt Trust Estate. Rosewood was established in 1935 by Texas oil tycoon H.L. Hunt and is based in Dallas (www.rosewoodpi.com).
Tailwind Advisors is an investment firm based in Fort Worth, TX (www.tailwindadvisors.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 6-10-15