SANTA ANA, Calif., March 30, 2011
/PRNewswire/ - Synchronous Aerospace Group, a leading provider of
machined metal and composite parts as well as kits and assemblies
to the global aerospace industry, announced that its parent company
has acquired Weaver Manufacturing, Inc., a premier provider of
precision machining and assemblies of structural parts to the
commercial, military and general aviation aircraft
Founded in 1942 and based in Wichita, KS, Weaver specializes in the precision machining and assembly of aluminum and titanium mission-critical and large-format parts for global aerospace manufacturers and Tier I suppliers.
Ron Case, President and Chief Executive Officer of Synchronous, said, "We are very pleased to be working with our investment partners at Littlejohn © Co. who continue to provide expertise and resources to grow our company and are helping to identify acquisition opportunities that will strengthen and broaden our product offerings. This strategic acquisition is consistent with our growth plans and we will continue to identify strong companies that will further solidify Synchronous' position as a key supplier to the aerospace industry."
Jim Gibson, Synchronous' Executive Vice President of Business Development, added, "We are very excited to partner with Weaver, due to its world-class reputation for on-time delivery, quality and customer service and seasoned management team. We are confident that Weaver's machining and assembly expertise and deep engineering know-how will offer our combined customers an attractive complement to our existing capabilities."
Equity financing for the transaction was provided by Synchronous' majority shareholder, Littlejohn Fund III, L.P. Debt financing was provided by Garrison Investment Group LP. Weaver was advised by Koch Siedhoff Hand © Dunn, LLP.
About Synchronous Aerospace Group
Synchronous is a Santa Ana, CA-based leading provider of: flight-critical, machined aluminum and hard- metal parts; integrated kits and assemblies; composite, metallic and metal-bonded airframe structures; and systems details to the commercial, fixed- and rotary-wing military, general aviation and space markets. The Company's products span the entire body of an aircraft, including the wing, airframe, engine and fuselage. Synchronous sells to leading aerospace original equipment manufacturers, Tier I suppliers and key MRO service providers from facilities strategically located throughout the United States.-