WENCOR GROUP ANNOUNCES ACQUISITION OF FORTNER ENGI
Post# of 301275
Wencor Group, a leading provider of innovative solutions to the aerospace industry, today announced the acquisition of Fortner Engineering & Manufacturing, Inc. ("Fortner"), a certified 145 repair station specializing in hydraulic component repair and maintenance with unique Designated Engineering Representative (“DER”) repair capability. Terms of the transaction were not disclosed.
"We are pleased to welcome Fortner to the Wencor team. This union aligns with our strategy to drive focused ATA chapter expansion and continues to strengthen our DER library while growing our repair offering in higher order assemblies. Dave Fortner and his team have developed a high quality, reliable, customer-focused MRO business that we will continue to support through investments in new capabilities, test equipment, and engineering talent," said Chris Curtis, Chief Executive Officer of Wencor Group. "The Fortner executive team is incredibly talented and will bolster the innovation and operational excellence within Wencor Group. We continue to look for opportunities to partner with stellar entrepreneurs to build comprehensive aftermarket component and repair solutions for our customers."
Dave Fortner, President of Fortner, commented, "We are very excited about partnering with an organization that shares our philosophy of offering exceptional quality and the highest level of customer service. Together, Wencor and Fortner will provide reliable and cost effective aftermarket parts and services, diverse component repair and alternate repair solutions for sub-components and Line Replaceable Units to the global market."
Houlihan Lokey Capital, Inc. served as financial advisor and Dentons served as legal counsel to the sellers. Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to Wencor Group.
| About Wencor Group, LLC |
| Wencor Group has been a trusted partner in aerospace for over 60 years, offering PMA design and development, CMM and DER repairs, and an extensive network of distribution solutions to help make flights safer and more cost effective. We support many of the commercial airlines, repair stations and OEMs worldwide through our corporate affiliates Wencor, Soundair Aviation Services, PHS/MWA Aviation Services, Aerospace Coatings International, Accessory Technology Corporation, Xtra Aerospace, Flight Line Products and Kitco Defense. Wencor Group is headquartered in the Atlanta, Georgia area with additional offices in Utah, Miami, Seattle, Southern California, Alabama, New York, Amsterdam, Singapore, Beijing, Shanghai, and Istanbul. For more information about the Wencor Group, please visit www.wencorgroup.com . About Fortner Engineering & Manufacturing, Inc. Fortner Engineering & Manufacturing, Inc. ("Fortner"), founded in 1952, has been an industry leader in hydraulic component maintenance, repair and overhaul (“MRO”) and an aftermarket services provider for the commercial and military aerospace industry. Specializing in flight-critical, difficult-to-repair hydraulic actuation, including flight controls, landing gear and thrust reverser actuation systems components. Fortner is focused on precision, reliability and efficiency, and supports many of the world's leading airlines, cargo carriers, aviation services providers, and OEMs. The company is approved to preform repairs on Boeing, Airbus, Bombardier and Embraer platforms and utilizes proprietary DER repair processes that has resulted in a long-term track record of quality and on-wing reliability. Fortner currently operates two facilities located in Glendale, CA. For more information, please visit http://www.fortnereng.com/ . |
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...4103b178b7
Raisa Ferdinand Wencor Group 678-490-0140 rferdinand@wencorgroup.com
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