Acquisition Will Strengthen Novaria’s Aerospace and Defense Components and Services Offerings
FORT WORTH, Texas–(BUSINESS WIRE)–Novaria Group, a leading manufacturer of specialty hardware for the aerospace and defense industries, announced today it has signed a definitive agreement to acquire FMi Chemical, Inc. FMi Chemical is a leading supplier of nonmetallic aerospace sealants, compounds and coatings for aircraft manufacturing and MRO. This is Novaria’s second acquisition in the past month, and its eighth since June 2020.
FMi is a trusted supplier to leading aircraft OEMs and MRO facilities worldwide. Their products consist of proprietary heat-resistant silicone sealants, nonmetallic sealants, compounds and coatings from industry-leading brands. In addition to manufacturing, FMi prides itself on custom packaged materials, accredited testing, short lead times and high-quality, reliable service.
At closing, Novaria will purchase FMi from its current owner, Harry Fine. It will continue to operate out of Bloomfield, Connecticut under the leadership of COO Nancy Daigle. The transaction is expected to close in May, subject to the satisfaction of customary closing conditions.
“We’re thrilled to be taking a new step forward with our partners at Novaria,” Daigle said. “FMi’s robust position as a trusted supplier in the aerospace industry will further enhance Novaria’s growing leadership in its markets worldwide.”
“The acquisition of FMi is an exciting step as we continue to diversify and strengthen our supply of high-quality, material science-based components and services that are vital to our customers, “Novaria CEO Bryan Perkins said. “FMi’s superb reputation and service are a perfect fit for our portfolio of offerings, and we welcome them to the Novaria family.”
Novaria Chief Financial Officer Justin Tucker added, “FMi Chemical, including its proprietary products and flight-critical sealing and abradable solutions, will be a valuable addition to Novaria. We look forward to building on the strong foundations of FMi and combining it with Novaria’s family of aerospace and defense-focused businesses.”
Specific terms of the acquisition have not been publicly disclosed.
About Novaria Group
Novaria Group is a privately held business focused on precision component companies that deliver optimum performance and sustainable growth with the aerospace and defense marketplace. For more information on Novaria’s business units, please visit www.novariagroup.com.