A Dayton-area aerospace company expects to add more jobs after being acquired by a global manufacturer headquartered in New Hampshire, the firm’s top executive said.
Huber Heights-based Enginetics Aerospace Corp. was acquired by Standex International Corp. of Salem, N.H. Enginetics will join Standex’s engineering technologies group. Terms of the deal were not disclosed.
Founded in 1976 as a manufacturer of prototype parts, Enginetics has grown from five employees into a provider of complex metal formed components and fabricated assemblies for the global aerospace industry. In 2012, the company acquired Weber Technologies Inc. of Eastlake, Ohio.
Enginetics has 175 employees, including 130 in the Dayton area and 45 at a Cleveland-area facility. The company posted revenue of about $30 million in the trailing 12 months.
“We have been growing pretty fast the last four or five years, and we will continue to do so,” said Wim Huijs, Enginetics’ chief executive. The company has been working with private equity capital since 2010, but now is part of a publicly traded corporation with a “strategic intent” to support its future growth, he said.
Enginetics’ management team will remain in place, and the company will continue to hire, Huijs said.
Standex officials said the acquisition will allow that company to expand its product offerings to existing customers by producing more internal engine components using Enginetics’ metal forming and other core technologies. In addition, it presents opportunities to sell Enginetics’ products and services into non-aviation markets currently served by Standex.
Standex operates in five segments, including food service equipment, engraving, engineering technologies, electronics and hydraulics. The company has about 3,800 workers at operations in the U.S., Europe, Canada, Australia, Singapore, Mexico, Brazil, Argentina, Turkey, South Africa, India and China.