Piqua company acquires Florida aerospace business
Wednesday, June 25, 2008
Tailwind Technologies Inc. of Piqua, the parent company of Hartzell Propeller Inc., acquired AcousticFab Inc. of Florida on June 11. AcousticFab designs and fabricates aerospace and military equipment noise control products and systems.
"This acquisition is neither good or bad for the Miami Valley, but it demonstrates the health of a local company that continues to grow," said Matt Jesch, Tailwind chief financial officer.
AcousticFab is in the aviation business in different segments than Hartzell, but is in associated industries with Electrofilm Manufacturing Company and Industrial Tube Corporation, Tailwind's other portfolio companies.
"They still have the benefits of being a small company. As well, with synergies in the Tailwind company, there may be some internal growth, which would be a happy benefit," said Jamie McIntyre, Tailwind's spokesman.
AcousticFab will not relocate to the region. Details of the acquisition weren't released.
Jesch said Tailwind has been acquiring aerospace companies that enhance safety and convenience. In this case, silencing solutions.
"We're acquiring an exciting company at the right time," Jesch said.
"As it (Tailwind) grows, all acquisitions help the Ohio economy," McIntyre said.
AcousticFab has earned contracts from Boeing, Honeywell, Hamilton Sundstrand, Magellan Aerospace and Hawker Beechcraft. It has products on the Boeing 787 Dreamliner, Embraer Commercial Jets, Bombardier Q400, Hawker 4000 and the International Space Station.
This is the fourth operating company to be added to Tailwind Technologies' portfolio. This acquisition will increase the size and profitability of Tailwind, a holding company that buys and operates value-added manufacturing businesses in general aviation, aerospace and industrial sectors said McIntyre.
Before acquiring AcousticFab, Electrofilm Manufacturing Company of California was acquired in 2006. Hartzell is prominent internationally for making general aviation propellers and has the largest market share in that category.
Contact this reporter at clevingston@DaytonDailyNews.com.
