Endeavour Capital recently announced the acquisition of Forrest Machining Inc., or FMI Aerostructures.
Based in Valencia, FMI Aerostructures is a leading manufacturer of critical structural components and assemblies for the aerospace and defense industry.
With 230,000 square feet under roof, FMI Aerostructures is one of the largest independent aerospace and defense manufacturing businesses in North America, according to an Endeavour news release.
FMI specializes in hard metal components, large aluminum structures and complex assemblies, serving key aerospace and defense customers, such as Lockheed Martin, Northrop Grumman, Boeing, Spirit AeroSystems and PPG Aerospace, per the release.
“FMI presents a unique opportunity to partner with an industry leader in a critical link of the aerospace supply chain,” Derek Eve, principal at Endeavour, said in a prepared statement. “By continually investing in new capabilities, capacity and its workforce, Forrest is well-positioned to build off its longstanding reputation as a key solutions provider to its customers. Our mission is to create a stronger supply chain for critical structures through value-added partnerships with our customers and delivering the best overall value in terms of quality, delivery and service. We are honored and excited to advance the legacy that Bob and Joanne Butler and the employees at FMI have built over the past 30 years.”
The new ownership group is committed to operational excellence through continuous improvement, developing and engaging its workforce, and investment in state-of-the-art equipment and systems, according to the release.
As part of the transaction, Tim Mickael is set to join the company as CEO and all other managers have been retained.