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October 28, 2021 04:31 PM

Avantus Aerospace divests three noncore composites businesses

Jeannie Reall
Correspondent
Plastics News Correspondent
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    Avantus Aerospace Ltd.
    Avantus Aerospace Ltd. will focus on small, critical c-class parts going forward.

    Avantus Aerospace Ltd., formerly Shimtech Industries Ltd., has divested its three noncore composites businesses as it focuses on producing C-class parts such as fasteners, shims and elastomer gaskets for the aerospace and semiconductors markets.

    JW Hill Capital, a private equity firm in Scottsdale, Ariz., purchased two of the companies: Performance Plastics Inc. (PPI) of San Diego, which makes engineered composite components for major military and commercial original equipment manufacturers and Tier One suppliers; and Angeles Composite Technologies Inc. (ACTI) of Port Angeles, Wash., which supplies advanced structural composite parts and assemblies for commercial and business aircraft.

    "These acquisitions diversify our aerospace portfolio into the growing composite aerostructure segment," John Hill, managing partner of JW Hill Capital, said in an Oct. 26 news release.

    Avantus sold a third company, precision aerospace parts maker Shimtech de Mexico (SDM Composites) of Hermosillo, Mexico, to Groupe Latécoère of Toulouse, France. The sale, announced Oct. 8, included SDM's 80,000-square-foot facility and two autoclaves big enough to fabricate structures as large as 50 feet long. Latécoère said it will integrate SDM into its existing Hermosillo operations.

    Latécoère makes fuselage sections and doors, electrical furniture, wiring and onboard equipment and employs more than 4,000.

    Thierry Mootz, Latécoère CEO, said in a news release the acquisition will provide vertical integration for future growth in North America. He noted Latécoère's other recent acquisitions: aerospace rods and struts maker Technical Airborne Components Industries (TAC) of Herstal, Belgium, in August; and Bombardier's Electrical Wiring and Interconnection Systems (EWIS) business in Querétaro, Mexico, in February.

    Avantus Aerospace is based in Hayes, England, and has its U.S. headquarters in Valencia, Calif. It is owned by Inflexion Private Equity Partners LLP and Auctus Industries Adviser Ltd., both of London.

    Avantus has purchased three specialty fastener companies in less than two years, all in California: Fastener Technology Corp. in North Hollywood, California Screw Products Corp. in Paramount and Fastener Innovation Technology Inc. (FIT), in Rancho Dominguez. Avantus said it will continue to expand its C-class product offerings. C-class parts are small, lower-cost yet critical aircraft parts that most often are replaced instead of being repaired.

    The market for C-class parts in defense and aerospace is expected to grow from almost $11.7 billion last year to $15.8 billion in 2027, with fasteners accounting for more than 50 percent of the demand, according to a report from Global Market Insights Inc. of Selbyville, Del.

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