EuroWire January 2021

Corporate News

▲ Avantus supplies parts for the aerospace and defence industry

Avantus Aerospace acquires Fastener Innovation Technologies

Avantus Aerospace, a supplier of C-class and composite parts for the aerospace and defence industry, has announced the acquisition of Fastener Innovation Technology Corporation (FIT). FIT manufactures high-strength speciality fasteners for military and commercial aerospace applications and has a natural fit with other companies in the Avantus group, including Lamsco and Fastener Technology Corporation (FTC), which was acquired by Avantus in December 2019. Founded in 1979, FIT has built a reputation as an innovative and reliable supplier with a broad range of speciality fastener qualifications and, under the guidance of president Larry Valeriano,

has expanded its applications to more than 25 aircraft platforms. Some customer relationships span multiple decades, such as those with Boeing (including BDSI), Incora (Wesco), Raytheon and Lockheed Martin. The existing management team will continue to operate and grow the business under the guidance of Avantus Fastener president Dennis Suedkamp, aided by Avantus’s additional resources. Avantus CEO Brian Williams said, “The FIT team have built an innovative speciality 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.” Mr Valeriano commented, “FIT’s great customer relationships and long tradition of manufacturing excellence make it an ideal fit for an organisation like Avantus Aerospace that shares its values. Together we are well positioned to capitalise on the long-term growth opportunities that lie ahead.” Mr Suedkamp added, “We look for- ward to enhancing our combined tech- nical and manufacturing resources, while also supporting the development of our employees and the success of our customers.” Avantus Aerospace www.avantusaerospace.com

Photo credit: PRNewsfoto/Avantus Aerospace

Graphics bigstockphoto.com/Artist tereh

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www.read-eurofasteners.com

January 2021