Long Beach, Calif. - Ducommun Inc. has agreed to acquire Composite Structures LLC of Monrovia, Calif., from private investors. Terms were not dis- closed.
Quarterdeck Investment Partners Inc. of Los Angeles heads the current ownership, which includes Carlyle Group of Washington and Anthony Pritzker of Los Angeles. Alcoa Inc. of Pittsburgh owned the business from 1986-97, Len Simonian, Quarterdeck vice president, said by telephone.
Composite Structures makes polymer composite and metal-bond structural assemblies for commercial and military aerospace applications. Polymer work includes hand lay-up and autoclave curing of prepregs and film adhesives for C-17 and Boeing 737 spoilers, Apache main and tail helicopter rotors, Rolls Royce fan containment rings and other components.
Established in 1950, Composite Structures employs 358, occupies 300,000 square feet and had 2000 sales of about $60 million. The current management team, led by President Brad Spahr, will continue to operate Composite Structures.
Publicly traded Ducommun of Long Beach reported profit of $12.7 million on 2000 sales of $165.7 million. After an anticipated June closing, Composite Structures will report within Ducommun's aerostructural products segment.
The agreement was disclosed May 21.