Avantus Aerospace on Tuesday said it has acquired Fastener Innovation Technology (FIT), a manufacturer of high-strength specialty fasteners for military and commercial aerospace applications.
Terms of the deal were not disclosed.
Avantus, which is based in California and is owned by the private equity firm Inflexion and investor
Auctus Industries, is a group of eight companies involved in the design and manufacture of laminated and solid shims, specialized fasteners, composite assemblies and metallic parts for the aerospace industry.
FIT, which is also based in California, has products on more than 25 aircraft platforms and some of its customers include Boeing [BA], Incora, Raytheon Technologies [RTX] and Lockheed Martin [LMT].
FIT’s management team will remain with the company and operate the business under Avantus Fastener.
“The FIT team have built an innovative, specialty fastener business with an excellent reputation,” Brian Williams, CEO of Avantus, said in a statement. “We believe our combined strength will allow us to better serve our customers and we look forward to making further acquisitions that complement our existing product and geographic offering.”