This represents the third acquisition completed by Novaria, with the support of equity partner KKR, in the last nine months.
Novaria, a precision component company that delivers to the aerospace and defense marketplace, recently announced the acquisition of The Young Engineers, Inc. (TYE). TYE is an expert in the design and manufacturing of aircraft and aerospace hardware — with a main focus on fasteners and inserts.
This acquisition continues Novaria’s expansion into aerospace fasteners. The full terms of the deal were not disclosed.
“We have made several acquisitions since April 2020, all of which are unique contributors to our evolving business model,” said Novaria CEO Bryan Perkins. “The acquisition of TYE is an integral part of our strategy to expand our portfolio of proprietary and qualified products we offer customers.”
The company’s extensive product range consists of industry-standard and proprietary potted, mechanically attached, floating nut, and panel fasteners.
“The decision to acquire TYE was an easy one, given its reputation in aerospace and its fit with our family of operating companies,” said Novaria CFO Justin Tucker. “We are looking forward to having access to TYE’s expertise and resources, which will allow us to expand our product line and differentiated solutions.”
Since its founding in 1963, TYE has successfully introduced several product lines to the aerospace industry. TYE’s committed focus on its innovation and a new partnership with Novaria will allow them to continue to expand its product portfolio and drive innovations to the market.
TYE operations will continue at its Southern California facility with its tenured, skilled employees, including former owner and president Pat Wells.
“Incorporating our product line within Novaria is a great combination that will continue the over 50-year history of TYE and allow for additional growth,” Wells said. “I look forward to joining Novaria, as their growth and success was a big factor in choosing them as partners for the next phase of TYE.”
Filed Under: Fastener industry news