ARCH Global Precision Announces Acquisition of Aero Pacific Corp and 2nd Source Wire & Cable, Inc
Press Release (ePRNews.com) - BLOOMFIELD HILLS, Mich. - Nov 26, 2019 - ARCH Global Precision (“ARCH”) has acquired Aero Pacific Corporation and 2nd Source Wire & Cable, Inc. (collectively “APC”), with locations in Garden Grove, Calif., and Placentia, Calif. APC is a manufacturer of large-footprint, high-precision components and assemblies for the defense and commercial aerospace markets. APC will join the ARCH Precision Components Segment and will solidify the company’s position as a substantial and growing supplier to the global aerospace and defense markets. APC core competencies include high-precision complex machining of large, hard-metal and aluminum forgings and plate, utilizing large gantry-style machining beds in addition to expertise in machining similar hard metals on more conventional CNC equipment. These expanded competencies are highly complementary to existing high-precision machining capabilities at other ARCH Precision Components Segment locations across the continental United States.
“We are extremely excited to announce the acquisition of Aero Pacific Corp., and we welcome all APC colleagues and customers to the ARCH family of companies,” said Andy Spiering, Divisional President of ARCH’s Precision Components Segment. “The acquisition of APC is strategically important as it will significantly broaden our exposure to attractive aerospace and defense customers and programs as well as expand our capabilities to include tight-tolerance machining of large-envelope, hard-metal parts for critical applications.”
“I am pleased to announce the sale of APC to ARCH,” said Mark Heasley, the former principal owner and CEO of APC. “In choosing an acquirer to sell to, it was extremely important to find a buyer with strong cultural alignment and one with a strong track record of acquiring and integrating businesses in a manner that is not disruptive to the customers and colleagues of the businesses that have been acquired. After spending time with a number of different interested buyers, it quickly became apparent that ARCH was the ideal fit for APC to partner with during this next phase of growth of the business. The entire APC team could not be more excited about the sale to ARCH and what the future will hold as we partner with the existing ARCH organization to drive growth and maximize performance.” Mr. Heasley will continue in his current role as the President of APC for the foreseeable future.
KAL Capital Markets was the exclusive advisor to APC.
ARCH, a Jordan Company platform company headquartered in metro Detroit, is an American company that manufactures high-quality cutting tools, medical instruments and implants, and precision-machined components for a range of critical applications. ARCH is strategically located across the country with over 20 production facilities serving the medical, aerospace, defense, and progressive industrial markets. The teams at ARCH are metalworking professionals with industry-leading tight-tolerance manufacturing expertise. ARCH provides innovative and practical solutions to the complex manufacturing challenges of their customers. For more information, visit: www.archgp.com
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