Fort Worth-based manufacturing company Novaria Group has acquired Bandy Manufacturing from JW Hill Capital in a deal involving two aerospace and defense companies.
“The acquisition of Bandy aligns perfectly with Novaria’s mission to deliver exceptional value to our customers in the aerospace and defense industries,” Novaria CEO Bryan Perkins said in a statement. “Bandy’s expertise in aerospace hinges and pins, combined with its legacy of innovation and excellence, enhances our ability to serve a critical need in the market.”
Terms of the deal were not disclosed.
Novaria is a leading manufacturer of specialty components and hardware for the aerospace and defense industries, while Burbank, California-based Bandy Manufacturing is a leader in the production of tight tolerance aerospace and defense hinges and pins.
Founded in 1953, Bandy just celebrated 70 years of supplying its customers with high-precision aerospace hardware. Its worldwide reputation for quality and reliability, as well as its guiding philosophy to be the most responsive supplier in the market, has established it as a trusted partner to the aerospace and defense sectors.
Novaria said that Bandy’s operations will remain in its Burbank, California, facility under the leadership of Roger Seaman, who will stay on as president and general manager.
“We’re thrilled to join the Novaria Group family,” Seaman said in a statement. “This partnership marks an exciting new chapter for our company, allowing us to expand our capabilities and better serve our customers while driving growth for both organizations.”
D.A. Davidson & Co. and Paul Weisbrich advised Bandy Manufacturing and JW Hill Capital on the transaction.
Novaria Group, a privately held business, is focused on precision component companies that deliver optimum performance and sustainable growth within the aerospace and defense marketplace.
Scottsdale, Arizona-based JW Hill Capital is an operations-centric private equity firm focused on manufacturing, value-add distribution, and industrial services, with a specialization in aerospace.
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