Fastener Innovation Technology acquired by Avantus Aerospace
Avantus Aerospace, a provider of C-Class and composite parts for the aerospace and defense industry, has acquired California-based Fastener Innovation Technology (FIT), for an undisclosed price.
Fastener Innovation Technology is engaged in manufacturing high-strength specialty fasteners for military and commercial aerospace applications. It is said to have a natural fit with other firms in the Avantus Aerospace group, including Lamsco and Fastener Technology Corporation (FTC).
Brian Williams – Avantus Aerospace CEO said: “The FIT team have built an innovative, specialty fastener business with an excellent reputation. We believe our combined strength will allow us to better serve our customers. We look forward to making further acquisitions that complement our existing product and geographic offering.”
Fastener Innovation Technology acquired by Avantus Aerospace. Photo courtesy of PRNewsfoto/Avantus Aerospace.
Established in 1979, Fastener Innovation Technology is said to have a wide range of specialty fastener qualifications and has expanded its applications to 25+ aircraft platforms.
The company has some customer relationships that span multiple decades, such as those with Boeing, Incora (Wesco), Lockheed Martin, and Raytheon.
The existing management team of Fastener Innovation Technology will continue to operate and expand the business under Avantus Fastener President Dennis Suedkamp, with the backing of the additional resources of Avantus Aerospace.
Larry Valeriano – Fastener Innovation Technology President said: “FIT’s great customer relationships and long tradition of manufacturing excellence make it an ideal fit for an organization like Avantus Aerospace that shares its values.
“Together we are well positioned to capitalize on the long-term growth opportunities that lie ahead in the fastener and C Class marketplace.”